Who have to pay?

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2012 I have 3 questions:-
1. How to calculate tax on arrears of family pension recd to death employee's spouse in lumsum. Is sec.57 deduction also available on it?
2. A house in the name of assesse has died and his son do rental agreement with tenent of that house and tenent directly deposit rent in son's bank a/c(but this was not written in rental agreement), then this rental income will be include in son's income or his widow mother income?
3. If after death of his father, his son gets interest (directly deposit at his bank a/c) on loan paid by father without any agreements and/or proof etc. to someone then this income of interest will be take as son's income bcz his bank statement showing Or his Widow mother's income.
IN MY OPINION AS PER LAW AFTER DEATH OF FATHER HIS SPOUSE IS THE FIRST OWNER And THEN AFTER HIS SON, SO ALL ABOVE INCOME TO BE TREATED AS MOTHER'S INCOME AND SHE WILL LIABLE FOR TAX, NOT HIS SON AND DIRECT DEPOSITE IN SON'S BANK A/C SHOULD IGNORE.
Am I right or not?? Also explain tax treatement.
Thank You.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

27 June 2012 A: yes sec 89(1) is available. B: Need to distinguish between INTESTATE succession i.e. without WILL OR with WILL. Accordingly it will be taxed under income tax.

Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2012 Thank you Sir, there is not any will and also not go for making will and these income/items are arise in f.y 2011-12.

Upgrade to CAclubindia Pro. Subscribe Now!