PROVIDENT FUND AND LIC
Querist : Anonymous
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.
Sec.10(11) and Sec.10(12) for PF
Sec.10(10D) for LI proceeds
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.
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