PROVIDENT FUND AND LIC
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 February 2010
IF I GET A MONEY BACK AFTER LIC MATURED AND P.F RECEVIED THEN THIS PART OF MY INCOME IS TAX ABLE OR NOT.
IF IT IS TAX FREE THEN IN WHICH SECTION OF INCOME TAX.
AS MY FATHRE HAS RECEVIED P.F OF RS 52000/-
AND 32000/- FROM LIC AS IT MATURED THISH YEAR.
thanks srinivas sir so is it nesssary to show it in itr form if yes where.
IF IT IS TAX FREE THEN IN WHICH SECTION OF INCOME TAX.
AS MY FATHRE HAS RECEVIED P.F OF RS 52000/-
AND 32000/- FROM LIC AS IT MATURED THISH YEAR.
thanks srinivas sir so is it nesssary to show it in itr form if yes where.
SRINIVAS SRIRAJ
(Expert)
28 February 2010
Exemption:
Sec.10(11) and Sec.10(12) for PF
Sec.10(10D) for LI proceeds
Sec.10(11) and Sec.10(12) for PF
Sec.10(10D) for LI proceeds
CA Gangadhar Mishra
(Expert)
28 February 2010
agree with the expert
Murtaza I Bhagat
(Expert)
28 February 2010
agree to experts,
both are deducteble from your taxable income u/s 80C whenever you paid Prem. or deduction of PF
and when you received at maturity or PF withdrawl its also tax free u.sec.. as per srinivas sir says.
both are deducteble from your taxable income u/s 80C whenever you paid Prem. or deduction of PF
and when you received at maturity or PF withdrawl its also tax free u.sec.. as per srinivas sir says.
Deepak Goel
(Expert)
28 February 2010
Agree with experts
CMA Arif Farooqui
(Expert)
02 March 2010
Agree with experts
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