Pf contribution & insurance


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Querist : Anonymous

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Querist : Anonymous (Querist)
31 May 2013 Dear Sir/Madam
One of my Client's Husband met with an accident and died.
After His wife received commuted pension rs.359600 and Group insurance amt 5000000.
other life insurances 3000000.
Gifts from His Husband's Friend for death ceremony amt rs 90000.
PPF also received.
pls help me to calculate the tax liability of in the hands of wife.

31 May 2013 Amount received on death is of the individual is not Taxable

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 May 2013 Thanx For Replay

Where she show the income in tax calculation

01 June 2013 Can show in ITR 2 ,

in details on exempt income

Shedule EI under (5) others

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 June 2013 Thanx Sir

Is Gifts From Husbands friend is also Exempted

01 June 2013 No,

gift from husband friend is taxable if it exceeds 50,000

however gift from husband is exempt from incometax


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