Riot compensation tax liabilities
Querist : Anonymous
My mother has received a sum of INR 5 lac (in FY15-16) from Central Govt. for compensation 1984 anti sikh riot and she is a govt employee in delhi.
So I want to know in her ITR return FY 15-16 is this compensation income is tax free? and do we have to declare this income in ITR return FY15-16? if yes so which u/s we can get tax exemption for this?
Querist : Anonymous
I have news details for the riot compensation details and my father lost his life in this riots.
Riots compensation in News:-
http://www.livemint.com/Politics/RdZDthooaeYua2ZTalhUhO/Immediately-disburse-Rs5-lakh-compensation-to-kin-of-1984-ri.html
Death compensation does not come under the purview of income at all. Hence, there is no separate exemption specified anywhere in the Income Tax Law.
Such receipt is not taxable.
Querist : Anonymous
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