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Regarding insurance claim

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2013 Sir,
my friend received a death claimed settlement of amount Rs.1,38,000/- as a nominee. what is the tax treatment of this income and which ITR form he will fill if he has no other income.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
17 July 2013 Death claim settlement is not taxable income. so incase no other income, no need to file ITR

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