Int. on Fixed Deposit and Amt. Received On Lic
This query is : Resolved
Deepak Garg
(Querist)
29 August 2008
Hello,
Everybody , can Friends u tell me what are the provisions are relateds regarding Int. Rev. From FD and Sum Recived on Maturity of LIC Thanks In Advance
Everybody , can Friends u tell me what are the provisions are relateds regarding Int. Rev. From FD and Sum Recived on Maturity of LIC Thanks In Advance
CA Hemant T Dewani
(Expert)
29 August 2008
if interest received on fd is taken on accrual basis then it is taxable on those years when you are declared your income othere wise it is taxable wneh you are receved cash
lic matured is not taxable it is exempt u/s 10 of the act
lic matured is not taxable it is exempt u/s 10 of the act
CA MOHIT VAATS
(Expert)
29 August 2008
Mr. Hemant,
LIC maturity amount is taxable if the person who take the policy get the amount...
But in case the LIC paid the amount of insurance that is not taxable....
Member View are open.....
LIC maturity amount is taxable if the person who take the policy get the amount...
But in case the LIC paid the amount of insurance that is not taxable....
Member View are open.....
SANDEEP AGGARWAL
(Expert)
29 August 2008
LIC MATURITY AMOUNT IS NOT TAXABLE IT IS EXEMPT. ONLY IN CASE OF PENSION FUND PENSION AMOUNT IS TAXABLE
REGARDS,
SANDEEP AGGARWAL
REGARDS,
SANDEEP AGGARWAL
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
