if my policy matures after a specific period and i will receive the maturity amount. is this amount taxable?
We have taken a life Insurance policy of rs 100000. we have made payment of Rs 25000 as premium which accounts for more than 25 Percent of the policy amt.
The policy amt has matured and we have received the amt
Will full 100000 will be taxable Or rs 75000(100000-25000) wil be taxable???
The premium which we have paid will be allowed as deduction or not???
Section 10(10)(D) says that if the premium amt paid is less than 20 Percent of the the policy amt then the whole amt received will be tax free
Plesse answer this question fast
If a company is buying and selling shares will it be treated as speculative business?
how will intra day set off without delivery of shares be treated?
does the same apply to an individual also?
please suggest quoting the appropriate sections.
what is a minute book?
why is it kept?
what is the procedure for preparing minute book?
to consider a land to be a asset of assessee, what all required?
In my case the assessee doesnot hold the land in his name, can that land is a asset of the assessee?
Can you please explain to me in detail the contents of explanatory statements in transacting special business?
I m really confused about who all are included in lineal ascendands and descendants? Are maternal grand parents included in it?
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Dear All,
At the time of quarterly filing, what should be entered in the place of Cheque no./ D.D No, if the tds is paid through net banking?
Please reply at your earliest.
Dear All,
At the time of quarterly filing, what should be entered in the place of Cheque no./ D.D No, if the tds is paid through net banking?
Please reply at your earliest.
CAclubindia
maturity of LIC Policy