08 August 2017
One of my friend got Rs.3700000/- as nominee of bank FD, Rs.1200000/- as 2nd holder of bank FD and Rs.957000/- as LIC's death claim after his mother's death. Now my question is; 1) Is there any provision to disclose the above income in the Income Tax Return? If yes, in which portion he has to fill in the ITR 3? 2) For all of this is the wealth tax is applicable for him?
CAclubindia
