You cannot switch from traditional term plan to e-term plan
Jaideep Raval
You cannot switch your plan. You can, however, take a fresh e-term plan if the premium is lower than the existing premium. You may have to undergo a fresh medical checkup. You may like to have a look at the claim rejection ratio of the new company also before taking the policy. The premium payment of existing policy should be discontinued only after a fresh policy is received. Term plans can not be issued to NRIs as such, but they can buy a policy when they are in India.
Over the last 10 years, I purchased mutual funds from different companies. This year, I redeemed almost all of them. All the mutual funds were redeemed after one year of purchase and Security Transaction Tax was paid. On some mutual funds, there was gain, while on others there was loss. But there is net gain in my hands. Will I be liable to tax on the gross gain or will indexing will be allowed?
Amar Srivastava
To determine your tax liability, more information is required in respect of type of schemes — debt, equity, liquid and the period of holding, i.e, less than a year or more. For example,
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