Answer:
If at the time of withdrawal the interest paid was $11,000, the beneficiary would be required to pay income tax on the same amount of $11,000.
Explanation:
The Interest Settlement Option is usually for people who don't need much money or the remedies which the Insurance Cover provides.
Sometimes they defer payment of the proceeds and collect interest on the same whilst they decide on what do do with the money.
When a beneficiary collects this sort of interest it is usually taxable.
Cheers!
Eat a potato pancake (latke)
Something used to represent an idea or process.
Answer:
<em>The Government of India Act, 1935 was an Act adapted from the Parliament of the United Kingdom. It originally received royal assent in August 1935. It was the longest Act of (British) Parliament ever enacted until Greater London Authority Act 1999 surpassed it. Because of its length, the Act was retroactively split by the Government of India Act, 1935 into two separate Acts:</em>
- <em>The Government of India Act, 1935, having 321 sections and 10 schedules.</em>
- <em>The Government of Burma Act, 1935 having 159 sections and 6 schedules.</em>
