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Income From Other Sources


14 December 2010 Respected Sir,

I'm having one query regarding Income From Other Sources i request you to consider the following case:-
If 'A' receives sum of say Rs. 200,000 as a compensation on account of death of his father. His father died in an accident which proved by Court of Law as an intentional act. The person created crime agreed to sum of money as compensation as per court order. Then in this whether the sum received will chargeable to tax or is exempt u/s 56? If no, whether the answer will differ if it will be received as Pension? 'A' is not subject to income tax, whether he has to file a return?

14 December 2010 This income cannot be trated as pension. Since this is a compensation.

I think this amount wil be covered u/s 56(2)(vi) " Receipts without consideration to be treated as income".

15 December 2010 Thanks for the reply....
So my interpretation of taxability without any exemption will be correct or not?




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