Where to disclose NPS in ITR under Assets ?
This query is : Resolved
27 August 2021
Hi Member,
I want to know, where to disclose NPS amount under Assets ? We claim deduction under 80C but as this is an investment thus how to show it under Assets ? There are option like Jewelleries, Archaeology, Vehicle, and other financial assets. And under other financial assets there are option are Bank, share & Securities, insurance policies, loan & advances, cash in hand etc.
As per me it should be under Shares & Securities. Please guide...
I want to know, where to disclose NPS amount under Assets ? We claim deduction under 80C but as this is an investment thus how to show it under Assets ? There are option like Jewelleries, Archaeology, Vehicle, and other financial assets. And under other financial assets there are option are Bank, share & Securities, insurance policies, loan & advances, cash in hand etc.
As per me it should be under Shares & Securities. Please guide...
27 August 2021
Yes, that is good option available among the list.
27 August 2021
Thank You Sir. Please guide on below mentioned query as well.
I am a member of Thrift and Credit Cooperative Society and that society is registered under Cooperative Society Act.
So my query is where to show my monthly contribution. On that monthly contribution, we get yearly interest. Further, we have some share money and on that share money we get monthly dividend @ 10%.
Please guide both case, 1st case where to show monthly contribution and interest theron. And 2nd case, Share Money and dividend there on.
Wish to hear from you soon.
I am a member of Thrift and Credit Cooperative Society and that society is registered under Cooperative Society Act.
So my query is where to show my monthly contribution. On that monthly contribution, we get yearly interest. Further, we have some share money and on that share money we get monthly dividend @ 10%.
Please guide both case, 1st case where to show monthly contribution and interest theron. And 2nd case, Share Money and dividend there on.
Wish to hear from you soon.
27 August 2021
If interest gets accrued, then the same will be clubbed under the contribution paid (every month). The same is grouped under investment. The interest is taxable under subhead interest u/h. IFOS.
The dividend income is also taxable i/h. IFOS, under sub-head 'Dividend'
The dividend income is also taxable i/h. IFOS, under sub-head 'Dividend'
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
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Old Traces Portal
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Gst reverse charge mechanism to be claimed in the month of payment
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Error in uploading Form 10BD
- PF wage ceiling
- ITC BENEFIT ON BROKRAGE PAID
- REGARDING ITR FILING QUESTION
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
