kishan (student) (49 Points)
24 August 2016Dear Sir,
Please clarify me,
1) If TDS is deducted on maturity of LIC, then what amount of income(i.e, principal+bonus or only principal/bonus) is to be shown in Total Income, and under what Head of Income it should be shown.
2) Similarly if Pension amount received on retirement what amount is tax free i.e, Principal+Interest or only Principal/ Interest
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182233 Points)
Replied 24 August 2016
1. Total of receipt amount under head income from other sources.
2. Total of pension receipt is taxable
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
