Ritesh khurana (CA student) (175 Points)
25 June 2012Dear Expert
Wife received an amount of Rs 15 lakh on account of accidental compensation claim due to death of her husband which is fixed for 5years.
Suggest Is there any relief on taxability of interest on such FD received by widow who have a taxable income.
Thanks and regards
Murtaza I Bhagat
(Tax & Finance Consultant)
(10523 Points)
Replied 25 June 2012
If any exemption income will utilized or invested in taxable investment and gaining taxable income so it would be taxable in hand of to whom it was invested. so in my view there is no relief interest on fd interest
she has to pay tax on it.
Murtaza I Bhagat
(Tax & Finance Consultant)
(10523 Points)
Replied 26 June 2012
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