An investor recently enquired about Aditya Birla Sun Life (ABSLI) Wealth Infinia plan. His bank RM has been pushing this plan aggressively. ABSLI Wealth Infinia plan is a Unit-Linked Insurance plan (ULIP). While I am not very fond of ULIP products, I will share the product review below. I am biased against mixing insurance and investments and do not like purchase … [Read more...] about Review: ABSLI Wealth Infinia ULIP: Should you invest?
The Budget 2021 changed the way Unit Linked Insurance Plans (ULIPs) will be taxed. This reduces the difference between the taxation of mutual funds and ULIPs. Let's find about how ULIP taxation has changed. What is the new rule about ULIP taxation? If you buy a ULIP on or after February 1, 2021 and the aggregate annual premium of such ULIP (ULIPs) exceeds Rs 2.5 lacs … [Read more...] about How ULIPs will be taxed? (After Budget 2021)
The Finance Minister presented the Union Budget 2021 today. Here are the key highlights. #1 Income Tax Slabs remain unchanged No changes have been made to the income tax slabs. No additional tax benefits have been announced either. #2 Interest on EPF becomes taxable in certain cases Current Regulation: Interest on your contribution to EPF account is exempt from … [Read more...] about Budget 2021: Highlights: Changes to EPF, ULIP taxation