1. Interest on PPF/GPF/EPF, GOI tax free bonds, saving bank account in a post office and dividends on shares and on Mutual funds.
2. Any capital receipt from life insurance polices i.e., sums received either on death of the insurance or on maturity of life insurance plans. However, in case of life insurance polices issued after March 31,2004, exemption is available only if the premium paid in any year does not exceed 20% of the sum assured.
3. Long term capital gain on sale of shares and equity mutual funds if the security transaction tax paid/imposed on such transactions.
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