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Prasad Shirodkar

Category : Exempt P..,
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July 24, 2018 1:16 pm
  • Exempt PF interest
Dear Sir:
Where should I show my PF interest earned from my EPF account? EPF account is opened by my employer at Bandra office.
Thanks & great effort on the website
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Amlan Dutta
Employer providend funds (EPFO) are generally recognized in nature ...So, these are exempt under section 10(12) ...you will show it under exempt income reporting section - nature of income is recognized PF - exempt under section 10(12) ...Check attached picture and rest shall be clear to you ...th...
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Employer providend funds (EPFO) are generally recognized in nature ...So, these are exempt under section 10(12) ...you will show it under exempt income reporting section - nature of income is recognized PF - exempt under section 10(12) ...Check attached picture and rest shall be clear to you ...the answer options - video shall guide you step by step........
  • July 24, 2018
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Jitendra B
EPF Interest on PF Account is not generally shown in ITR. Only the PPF Account interest which you have will be shown in Other Income not to be included in taxable income.
  • July 24, 2018
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Sachin

Category : Exempt I..,
Solved
July 24, 2018 12:49 pm
  • Exempt Income
Hi ,
I have couple of clarification :
1.My dad had received a sum from LIC as nominee for my mother LIC policy on her death . Should I show this amount received under Sec 10 (10D) or should i put that amount under ' other ' tabs and write a note.
2. Since my mom was bank employee, my dad has receive...
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Amlan Dutta
My condolences ....You will show it exempt under 10(10 D) ...There won't be any problem.......take care
My condolences ....You will show it exempt under 10(10 D) ...There won't be any problem.......take care
  • July 24, 2018
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Sanjib Basak

Category : Exempt I..,
Solved
July 24, 2018 12:25 pm
  • Exempt Income
Sir
I have received for Rs 240000/_ from LIC. One policy is Maturity for FY 17-18. How show this amount in ITR 1 and this a exempt income and which section?
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Amlan Dutta
The guiding section for exemption for all pension plans is 10(10 D) ...but there are exceptions to the rule ...if Policy taken after April 2012 and the annual premium less than 10% of the sum assured, then the whole sum received at maturity is exempt under section 10(10D) ...Check attached image on ...
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The guiding section for exemption for all pension plans is 10(10 D) ...but there are exceptions to the rule ...if Policy taken after April 2012 and the annual premium less than 10% of the sum assured, then the whole sum received at maturity is exempt under section 10(10D) ...Check attached image on how to represent this
  • July 24, 2018
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Sanjib Basak

Category : Deductio..,
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July 24, 2018 12:13 pm
  • Deduction benefit for House property
A taxable person received in his bank account Rs 5 Lakh from ICICI Home loan A/c For FY 17-18. Where this amount show in ITR 1?
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Amlan Dutta
The sanctioned loan that he has received in his bank account need not be shown in ITR ...


The loan repayment only needs to be shown on account of the deduction benefits that are available in case of home loan ....the interest portion of loan repayment under section...
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  • July 24, 2018
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