Dear all
I want to ask that I have a shop in the name of me & my wife and i am getting a rent of Rs. 3 lacs every year so I want to ask that under which head this income should be taken and can i distribute this income with my wife or not? and also which deductions i will get from this income & which ITR i have to file for this income only
My another question is that my LIC endowment policy is going to be mature so please tell me that the entire amount which i will get from LIC is taxable or tax free?
CAclubindia
