Comment posted on Direct Tax Code (DTC): Highlights and Impact by sushil.
But original bills of LTA/LTC are submitted to employer for claim. How a employee can keep records/bills ?
sushil also commented
- Dear Pankaj ji
I have Money Plus policy of Lic which i purchased on june’2006 at annual pre.10000/.Sum assured is 100000 & policy term is 20 years.Now i want to surrender this policy because of need of money.Will proceed recd. as surrender value be taxable ? As per present I.Tax act this should be exempted u/10(10D). Pl. Confirm.
Thanks a lot!
- Thanks pankaj
But my policy is New jeevan dhara plan (table 145) not New jeevan dhara I (table 148).In policy bond also condition of 25% as tax free maturity proceeds is not mentioned.Now will full surrender value to be added in income? pl. guide.
- I have recd.maturity of lic policy(New jeevan dhara plan) which was purchased on.2001-02
on single premium basis.Rather than going into Annuity option i recd.full surrender value of Rs.50000/ .have this amt. is to be included in my income for tax purpose? pl. guide.
- I am getting conveyance allow. in my salary for which i am being given exemption u/s 10 by my employer.At the same time i am also getting reimbursement of fuel upto a limit of 125 lts.p.m as perquisite for car owned by me.If I furnish to employer Log book mentioning details of official journey as well as journey between my residence & office,How much i can get exemption? Pl. tell
- Can deduction u/s 24 (interest on self occupied house property) can be claimed in case of purchase of semi finished house? as of now & also after implementation of DTC ?