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Accident claim Received By minor

Surya S (68 Points)

01 August 2023

Accident claim received by minor child and his mother. TDS deducted both PAN . but how to file ITR for minor income ? how to claim TDS to clubbing the minor income to his mother income ?

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6 Replies

Mahesh Shah (2308 Points)
Replied 01 August 2023

Accident claim is in nature of Capital reciept and hence not taxable
to claim tds file itr by clubbing income of child

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 01 August 2023

Both PAN means child has also PAN card?

sabyasachi mukherjee (27579 Points)
Replied 01 August 2023

Both pan means child has also a pan card.

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 02 August 2023

Minor income should be clubbed with parents income

Mahesh Shah (2308 Points)
Replied 02 August 2023

To claim tds for compensation of accident claims for both mother & son, ...clubbing will not help
1) mother to file appropriate ITR showing claim amt in not taxable income & fill tds details
2) son....to file itr by representative.income tax filer...by visiting portal and filling representative details....claim compensation amt in income not taxable...( capital in nature)...and fill tds.
( assuming minor son has pan...as stated in query)
also go through income tax rules/ take help of professional/
( disclaimer...my opinion is based on my personal knowledge and not as professional)