Taxable or exempt
This query is : Resolved
Guest
Guest
(Querist)
28 June 2012
Sir,
Please show me the solution
One assessee has taken birla sun life insuarance policy. He partially withdrawl some amount from policy before matuarity.
my question is that "Is partial withdrawl of lic amount before matuarity is exempted or not ?" if there is any amount limit for exemption then please let me know
Thanks in advance.
Warm Regards,
Nishant Sipani
Please show me the solution
One assessee has taken birla sun life insuarance policy. He partially withdrawl some amount from policy before matuarity.
my question is that "Is partial withdrawl of lic amount before matuarity is exempted or not ?" if there is any amount limit for exemption then please let me know
Thanks in advance.
Warm Regards,
Nishant Sipani
28 June 2012
The amount received under "money back" kind of policy is not taxable.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
