Hi,
Can anyone tell me,
1. Donations paid to spiritual trust by dependant mother of an assessee is exempted or taxable on the hands of assesse?
2. LIC Premia paid by assessee for dependant parents is exempted from taax or it is taxable?
Regards,
Kumar
Accountant/HR
1. Neither is exempted or taxable because assess has to show his income in ITR.
2. Lic premia paid by assess for dependant parents is exempted upto 20000.00
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