17 July 2015
MRS A HAS PENSION INCOME OF RS 452800/- IN F.Y 2014-15, SHE ALSO RECEIVED LIC CLAIM OF RS 875000/- DUE TO DEATH OF HAS SON IN SAME FINANCIAL YEAR..
SO MY QUERY IS MRS A IS LIABLE TO PAY TAX ON 875000/- ??? OR SHE CAN AVAIL ANY EXEMPTION FOR THIS 875000/- INCOME???