EXEMPTION OR TAXABILITY OF INTEREST RECEIVED UNDER PRADHAN MANTRI VAYA VANDANA YOJANA

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DIRECTOR
192 Points Posted on 11 July 2023

MRS. X AGED 62 YEARS HAS DEPOSITED RS. 15 LAKH UNDER PRADHAN MANTRI VAYA VANDANA YOJANA OF LIC. AND RECEIVED INCOME OF RS. 9250 EVERY MONTHS FOR FY 22-23. WHETHER SUCH INCOME IS TAXABLE OR EXEMPT FROM INCOME TAX. IF EXEMPT THEN UNDER WHICH SECTION OF INCOME TAX

 

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On 11 July 2023 at 10:51 Report
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Quick Summary
This discussion explores the taxability of interest received from the Pradhan Mantri Vaya Vandana Yojana (PMVVY). A 62-year-old individual invested Rs 15 lakh in the scheme and receives a monthly income. The core question is whether this income is taxable or exempt under Indian income tax laws, and if exempt, under which specific section.

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PROPRIETOR
552 Points Posted on 11 July 2023
It is taxable income under income from other sources
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On 11 July 2023 at 12:59
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SEO Sai Gr. Hosp.
212535 Points Posted on 11 July 2023

It is taxable u/h. IFOS....

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On 11 July 2023 at 13:05

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