Taxability
This query is : Resolved
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?
2. Indian citizen - Non resident. employee of private concern. If he receives any income abroad should he disclose the same in his IT return?
13 March 2009
DEDUCTION U/S 80C IS ALLOWED ON PAYMENT OF LIC PREMIUM.
FOR NON RESIDENT ONLY INDIAN INCOME IS TAXABLE.
FOR NON RESIDENT ONLY INDIAN INCOME IS TAXABLE.
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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