Itr filling related guidance request

ITR 181 views 2 replies

Abhijit Ghosh

618 Points Joined June 2010

Dear Valued Members,

A Central Govt. employee died on Jan-14 and all post death official benefit received by her wife and pension started from July-14. She doesn't have any other income other than pension and bank interest. She have received around 14lakhs from all claims.

From the funds the lady invested 6lakhs in Mutual Funds and rest in bank FD's. Now lady has received letter from IT deptt. stating "Paid Rs. 2 lakh or more for purchase of MF" in F.Y. 2014-15 & 2015-16 and advised to furnish reply within 20 days. The lady never filed IT return and total income received from pension & bank FD's (monthly) is Non-Taxable in both f.y.

Now query is if the lady wanted to file her IT return, which form she have to file and whether there have any section to mention the total amount received from death claim settlement. Please advise.

Thanks in Advance.

Regards,

Abhijit Ghosh

Replies (2)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208912 Points Joined July 2016

"The lady never filed IT return and total income received from pension & bank FD's (monthly) is Non-Taxable in both f.y.

Now query is if the lady wanted to file her IT return, which form she have to file and whether there have any section to mention the total amount received from death claim settlement."

She can file ITR 2. Income received as non-taxable can be declared u/s. Exempted Income.

Advised to reply the notice, with the exempted income working along with its proofs.