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Taxability

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(Querist)
13 March 2009 1. LIC life policy being assigned for getting housing loan. Is the assessee eligible to claim deduction u/s 80C?

2. Indian citizen - Non resident. employee of private concern. If he receives any income abroad should he disclose the same in his IT return?
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
13 March 2009 DEDUCTION U/S 80C IS ALLOWED ON PAYMENT OF LIC PREMIUM.

FOR NON RESIDENT ONLY INDIAN INCOME IS TAXABLE.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 March 2009 Exempted income is also to be disclosed in the Income tax return so as to comply with the true and fair disclosure requirement of income.
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