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PROVIDENT FUND AND LIC

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Querist : Anonymous

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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.
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SRINIVAS SRIRAJ

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SRINIVAS SRIRAJ (Expert)
28 February 2010 Exemption:
Sec.10(11) and Sec.10(12) for PF
Sec.10(10D) for LI proceeds
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
28 February 2010 agree with the expert
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Murtaza I Bhagat

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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.
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Deepak Goel

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Deepak Goel (Expert)
28 February 2010 Agree with experts
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
02 March 2010 Agree with experts
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