Tax on arrear
This query is : Resolved
SUBHASH MISHRA
(Querist)
24 February 2018
After death of Mr. X, his wife Mrs. X was getting pension.
During F.Y. 2016-17, Mrs. X also died and his son got an amount of Rs. 4.0 Lac, which was due towards pension of his mother. This amount was received after death of his mother. Concerning bank deducted TDS thereon under section 192 and which is reflecting on PAN of son.
Question is that 1) Whether this amount is taxable in hand of assessee and if yes then under which section ? Please guide…
During F.Y. 2016-17, Mrs. X also died and his son got an amount of Rs. 4.0 Lac, which was due towards pension of his mother. This amount was received after death of his mother. Concerning bank deducted TDS thereon under section 192 and which is reflecting on PAN of son.
Question is that 1) Whether this amount is taxable in hand of assessee and if yes then under which section ? Please guide…
K Srinivas, CMA CS
(Expert)
25 February 2018
Taxable in the hands of assessee as income under other sources. Standard deduction of lower of Rs.15000 or 1/3 of pension received is available as deduction
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