Banks concurrent audit
This query is : Resolved
Tinku Agarwal
(Querist)
24 June 2014
Dear Sir,
I Had received bonus of 19500 from max life insurance. is it taxable or not
I Had received bonus of 19500 from max life insurance. is it taxable or not
24 June 2014
what does 'unrealised other income for AD' and ' unrealised income for CC and OD' means? and how should an auditor treat any mismatch in these accounts? please help
Rupesh Jain
(Expert)
24 June 2014
bonus receid from insurance company agst life insurance is not taxable.
Nischit Sanghavi
(Expert)
24 June 2014
Bonus from Insurance company is not taxable. The funda for LIC is EEE i.e. deduction available at the time of investment, Interest accrued is also not taxable and Amount received at the end is also exempt.
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