Menu
Challenge of just 3 questions.
I have 3 questions:-
1. How to calculate tax on arrears of pension recd lumsum and also got monthly pension too?
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.
Replies (4)
I have answer only for the first question
The arrears of pension recieved can either be
a)Taxed at the year of receipt or
b)Taxed for the years corresponding to which it is received; at the choice of the receiver.
The monthly pension can only be taxed at the year of receipts
Thank you Iyerji for reply. Plz clear is sec.57 deduction can also be taken on it,since it is already taken on monthly family pension.
Secondly, please do your best to search answer of my remaining questions as they may change tax liability amount.
One more thing, in the above all questions pension means Family pension recd death retired employee's spouse and she had never file itr before as no income.
And there is no WILL(VASIYAT).
Recent Topics :
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
- How Can a Trader Utilise Approximately ₹1.20
- How Can Law Students Present Papers at Conferences
Related Topics :
CAclubindia
