What is the tax liability
This query is : Resolved
23 November 2012
dear sir,
my query is that a person has invested in life time super pension scheme of icici prudential company for 10 year. he has invested rs. 125000 per year on which deduction is claimed u/s 80/c of i.t act.
after 5 year but before the maturity amt of rs. 691000 received against total invested amt of rs.625000 (i.e 125000*5) icici prudential not deducted any t.d.s on it. now realised what will be procedure under income tax act 1956.
my query is that a person has invested in life time super pension scheme of icici prudential company for 10 year. he has invested rs. 125000 per year on which deduction is claimed u/s 80/c of i.t act.
after 5 year but before the maturity amt of rs. 691000 received against total invested amt of rs.625000 (i.e 125000*5) icici prudential not deducted any t.d.s on it. now realised what will be procedure under income tax act 1956.
23 November 2012
the whole income received is tax free. as you have remain investment for 5 year lock in period.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
