is income received rom chit fund is tasxable or not

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STUDING
306 Points Posted on 11 July 2010

hi, every one i have a query regarding taxability of income from chit fund is fuly taxable or not , pls reply

regards

Harish

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On 11 July 2010 at 18:18 Report
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CA Final
1418 Points Posted on 12 July 2010

The entire amount is taxable. 

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On 12 July 2010 at 07:26
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STUDING
306 Points Posted on 12 July 2010

hi, vishnu priya

thanks for ur reply , can u provide any specific section for taxability , & can we  can claim exp from the income of  chitfund

regards

Harish

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On 12 July 2010 at 15:41

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