PROVIDENT FUND AND LIC

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2010 IF I GET A MONEY BACK AFTER LIC MATURED AND P.F RECEVIED THEN THIS PART OF MY INCOME IS TAX ABLE OR NOT.
IF IT IS TAX FREE THEN IN WHICH SECTION OF INCOME TAX.
AS MY FATHRE HAS RECEVIED P.F OF RS 52000/-
AND 32000/- FROM LIC AS IT MATURED THISH YEAR.
thanks srinivas sir so is it nesssary to show it in itr form if yes where.

SRINIVAS SRIRAJ

SRINIVAS SRIRAJ (Expert)
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28 February 2010 Exemption:
Sec.10(11) and Sec.10(12) for PF
Sec.10(10D) for LI proceeds

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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28 February 2010 agree with the expert

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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28 February 2010 agree to experts,
both are deducteble from your taxable income u/s 80C whenever you paid Prem. or deduction of PF
and when you received at maturity or PF withdrawl its also tax free u.sec.. as per srinivas sir says.