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hanif

Category : LIC Jeev..,
Solved
May 2, 2019 1:53 pm
  • LIC Jeevan Anand Endowment plan
i have a LIC endowment two policies taken in the year 1991 for Rs 1 Lac and Rs 50000/- respectively.
The maturity is August, 2019 for both the endowment policies.
i pay premium of rs 2701/- for one policy and rs 1664/- for another policy and the bonus gets added up for both policies.

I have a qu...
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Amlan Dutta
Here policy taken before 2012 .......If the annual premium paid is less than 20 % of sum assured, then as per Section 10(10D) of the Income Tax Act, 1961 the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity are completely tax free for the receiver
  • May 3, 2019
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Syed Shaied

Category : Income t..,
Solved
May 1, 2019 9:33 am
  • Income tax
I am salaried person. There is a fd of rs 900000 jointly, my annual income was below threshold limit for last 6 year, now the limit above 2.5 lakh and i filed IT return for ay 2019-2020 showing my income 4.42 lakh including other sources of income. The fd amount was acquire year by year from my savi...
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Amlan Dutta
No there won't be any problem that you have a FD of 9 lakhs against a annual income of 4.42 lakhs ...if it is ever questioned, you can justify the FD investment with savings .I hope that you have offered the interest income from FD in the earlier years and claimed TDS refund of deducted TDS ...even...
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  • May 1, 2019
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Gajendra Arvind

Category : Taxabili..,
Solved
May 1, 2019 2:33 am
  • Taxability of Foreign ESOPS
In one of the below responses it was mentioned for Unlisted and Foreign Shares under LTCG 'Gains will be treated as long-term if shares are held for more than 24 months. Tax will be levied @ 20% with indexation benefit and @10% without indexation benefit.' Does indexation benefit apply for shares he...
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Amlan Dutta
I have corrected it , as far as i understand for unlisted foreign shares, taxation is at 20 % with indexation ....i don't think that the concessional rate of 10 % ( without indexation option ) is available for unlisted foreign shares.....you may like to take a second opinion....
  • May 1, 2019
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Sunil Sahoo

Category : Taxabili..,
Solved
April 30, 2019 4:14 pm
  • Taxability of ESOPS
Can you please let me know how are employee stock options i.e ESOP's taxed ...My friend works in Indian IT company who has vested with him employee stock options to buy company stocks at 100 Rs for a certain time period . At present the stock is trading at premium i.e say 150 Rs and he is wanting to...
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Amlan Dutta
Simply having access to ESOP stocks doesn't attract tax, But the right to exercise buying and selling of stocks attract taxes

In emplo...
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  • April 30, 2019
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