Tax on Life Insurance Policy Amount
Tax on Life Insurance Policy Amount
I had subscribed to IDBI Federal Incomesurance Endowment and Money Back Plan, which commenced from 30.09.2013. I paid premium for 5 years @ Rs. 48501 (total of Rs. 242505/-) as per the policy terms an
3 years ago
A. Dear tax payer,
1.the surrender of the policy will be considered as income under section of 10(10D) . So the tds will be levied .
TDS cannot be considered as the tax paid . we can file the income tax return and claim refund.
2. we can declare the loss in the income from other sources while filing the return and can claim refund of the TDS.
#tax#crime#civil#
Govardhan Marada
Taxes on Cryto currency
Hello Sir/Madam I have assets in crypto and since the limit has exceeded my exchange which operates in southkorea and China is telling me to withdraw funds .For withdrawal they are asking me to pay ta
3 years ago
A. Hi,
If you want to withdraw your cryptocurrency in the form of fiat currency, you would first need to convert it. You convert it in the same manner that you exchange other cryptocurrencies.
However, more information is required the facts of the case, so ass to advice you properly.
If you find this answer helpful, please rate us.
Ayantika Mondal @ Prime Legal
Work from home data entry job fraud regarding
Sir, i applied for work from home job in naukri. Through this , a company "tcgfinancial services pvt ltd", gave SBI related outsourcing work they gave. After completion, they suddenly ask me to pay GS
3 years ago
A. Hi,
This would depend on the terms of your employment agreement. However, I'd advise you to not make any unnecessary payments, as this is a well known trick used by scammers on job applicants.
If you found this helpful, please rate us.
Ayantika Mondal @ Prime Legal
Tax for Seafarers
I'm a seafarer and has not completed 182 days during the year 20-21. So, I'm resident Indian during 20-21. If I receive the salary for the months Dec'20-Mar'21 after Apr'21 and I become NRI for the ye
3 years ago
A. All CA are still not dead or arrested to answer this.
Ankur Goel @ Complete Law Shield
Ayantika Mondal @ Prime Legal
Education tax
I had enrolled in a Post Grad certification course from BITS Pilani. But for some reason I was not able to continue the course and pulled out before the course had started. The university will be refu
3 years ago
A. Hello,
Yes GST is applicable for education services also, though you must first check the college rules and guidelines for the return policy
Ayantika Mondal @ Prime Legal
Rural agriculture land
Can I sale a rural agriculture land today which I had purchased a week before As rural land has 100 % tax exemption do I need to pay tax ? Or What ll happen if I sale it
3 years ago
A. Dear Sir,
If you can manage you can sell but normally other documents must reflect your name otherwise registration may not happen.
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Keches Shilwante
NITHYANANDAN SUNDARESAN
A. Dear Sir,
Such companies are many and doing cheating business. You need not afraid of them and they cannot do anything.
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tax on agriculture land on sale
do i have to pay taxes after i sell the agriculture land..if yes, how much
3 years ago
A. -Dear Client
1.Agricultural Income is exempted from Income Tax as Income Tax ACt, 1961.
2. I Advise to Consult a Tax Specialized lawyer or Chartered Accountant in this regard.
But Usually it is exempted from law.
NITHYANANDAN SUNDARESAN
Pankaj Kumar Srivastava
PAYMENT DUE REACHED
My customer bought my product on 2/6/2020, The die date is 23/6/2020. He is not making the payment and even not attending my calls also. What can I do now?
3 years ago
A. I have gone through your query in detail.
1) Sorry to say but it is very difficult or almost impossible to recover payments from a die person
2) As your said you are customer bought the product on 2/6/2020, and the customer die on 23/6/2020. So once the person is die you cannot expect a payment from him because when a person die the file is closed, because when the person is die then we cannot make any payment and so he cannot attend any calls because he is die
3) So now sending any legal no ...ReadMore
Pankaj Kumar Srivastava
Is gift from children considered as income
Hello, My father has received gift of about 7 lakh from my sister. He has got a gift deed prepared for the same. He has made payment of about 7 lakh amount to the education loan account for my sister
3 years ago
A. 1) Does your sister have the income to make the aforesaid gift?
2) What was the medium of transfer? (Cheque/Cash)
3) Was the medium of transferred in the Gift Deed?
Under the income tax act, the gifts from relatives are not taxable. However, just for the sake of completeness, the aforementioned questions should be taken into consideration.
Sankalp Malik
