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Pension income

raj (student) (26 Points)

26 March 2017

As my cousin brother was in the army and died under course of operational duties and after some year his wife also died who was also a govt servant, now the pension income of both the persons is received by her daughters who are minor, Is it vital to apply for PAN and file ITR in the name of minor children? And what will be the situation if the pension income paid by govt to the legal guardian to safeguard and look after the minor child?

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(Guest)

GOOD QUESTION

MINOR APPLY FOR THE PAN CARD

FIRST CLEAR ALL THE TAX DUES OF MOTHER AND FATHER

FILE THEIR RETURN

APPLY FOR CANCELLATION OF PAN CARD (parent)

CLUB THEIR THEIR INCOME WITH HER PAN CARD

AND WHATEVER PROPERITY TRANSFER DUE TO DEAHT

IS TAX FREE NO TAX ON SUCH TRANSFER

raj (student) (26 Points)
Replied 26 March 2017

Thank you samir, But, It has almost been 3 years ago since the death of their parents, there is no tax due in respect of their parent income and now the pension income of Rs 50000 PM is received by their minor children. Should I apply for their PAN Card and Should I file their IT return as the pension income is fully exempt u/s 10(19)? Pls also give reference to the related Section under the Income Tax Act which deals with such case.