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AMFI pitches for parity between mutual funds and ULIPs


ULIPs are a combination of insurance and investment scheme, which offer both protection and capital appreciation.


AMCs demand parity between the schemes in terms of tax benefits and switching from one scheme to another.

Currently, tax is exempted on ULIPs if redeemed after 5 years, while mutual funds are subjected to tax.

AMCs also demand parity in premium payment as tax deduction is allowed for ULIPs under Section 80C of the Income Tax Act 1961.


AMCs mainly want ULIPs to be categorised as an investment scheme instead of an insurance scheme or give the same tax-related facilities to other mutual fund schemes.

Holding period parity among all security types such as equity, debt, REITs, and InvITs is also suggested.


The government may categorise ULIPs under investment schemes in the 2023 budget.


Click here to know more about Budget expectations of AMFI.

Check here for more budget related stories.


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