Dear All
Whether any lumpsum amount received by the spouse (say wife) on the death of the spouse (say husband), from a charitable institution, where husband has been a member of the charitable institution, is taxable in the hands of the living spouse?
If not, under which section, it could be claimed as an Exemption or Deduction?
Thanks in advance.
Unless it be of capital nature, seems to be taxable. Nature of receipt is not clear.
Thanks for the resply sir,
Its a one time lumpsum payment by the charitable institution to the spouse / family of the memebr of the institution on his death while being a member of the institution or for that matter a memebr of the public social group.
CAclubindia
