group insurance money recd. its taxability
This query is : Resolved
satish soni
(Querist)
14 July 2008
plz tell me treatment of money recd. on retirement of amt. deducted during service of state govt. employee.
under which sec. he gets benefit of that amount
under which sec. he gets benefit of that amount
CA. Sahendra Jaiswar
(Expert)
15 July 2008
Please specify what is kind of deduction made during the service of state Govt. If it is a part of salary kept aside and on which no tax has been paid in the past then it is liable for the tax in the year in which it is received otherwise, we have to verify the nature of deuctions made.
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