Life insurance exemption and saving bank interest
This query is : Resolved
11 June 2013
DEAR SIR,
I am going to file ITR for AY 2010-11, 2011-12, request please advise
1. Is interest earned in saving bank is taxable.
2. How much(%) exemption I can take on premium paid for life insurance.
thanks
I am going to file ITR for AY 2010-11, 2011-12, request please advise
1. Is interest earned in saving bank is taxable.
2. How much(%) exemption I can take on premium paid for life insurance.
thanks
CMA Ramesh Krishnan
(Expert)
11 June 2013
Belated return u/s.139(4) can be filed only with in 1 year from the end of relevant assessment year. so both assessment year time is barred now. you cannot file now
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