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Reliance ULIP purchased in May 2014 with Single Premium and it is pre-matured redemption in the January 2021. Please let me know, whether benefit amount is taxable or tax free under sec. 10(10D) for t

Posted 4 months ago

A. Dear Sir,
You may approach the chartered accountant for detailed advise basing upon your financial source of income. Normally, such amount is taxable in the hands of tax paid but depending upon your eligibility for getting exemption you may discuss with chartered accountant.

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Can I use empty gas cylinder from scrappage and use it to do project.can I cut and do the projects and commercialize it.

Posted 9 months ago

A. Hi,
No, this is illegal. You have a duty to return empty cylinders to your authorized gas distributors. If they find out about the same, you can be punished under law.
If the cylinders you are referring to are scrap and not in use, then yes, you can use them for whatever purpose you intend.
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