Income tax

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 August 2012 respected sir

my query is that my father has been expired last year from the haryana state govt. Hry state provided financial assistance to my mother instead of ex gratia job. please tell me that that amount given by govt is taxable in hand of my mother or not .

plz tell me

05 August 2012 The lump sum amount being received from the Govt. in consideration of the death of the employee on duty or in Service. It is not taxable in your mother's hand as income.
.
However, if the financial assistance is continued to be given on monthly basis or as a pension to the deceased person's widow, it can be termed as family pension.
.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 August 2012 thanx sir
it is given on the monthly basis , it will be given up to date of retirement of my father ( basic and da )
plz tell me


05 August 2012 It can be treated as Family Pension. She may avail a Deduction of 1/3 rd of FP or Rs. 15000/- which ever is less.
.

However, further inquiry with the treasury
/ Govt. department will guide you in this regard.
.

05 August 2012 It is a capital receipt in lieu of Ex Gratia...
Hence it will not be treated as Taxable receipt

05 August 2012 Agreed with the reply

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 August 2012 sir please tell me clear



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries