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Banks concurrent audit

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24 June 2014 Dear Sir,

I Had received bonus of 19500 from max life insurance. is it taxable or not

24 June 2014 what does 'unrealised other income for AD' and ' unrealised income for CC and OD' means? and how should an auditor treat any mismatch in these accounts? please help

24 June 2014 bonus receid from insurance company agst life insurance is not taxable.


24 June 2014 Bonus from Insurance company is not taxable. The funda for LIC is EEE i.e. deduction available at the time of investment, Interest accrued is also not taxable and Amount received at the end is also exempt.



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