Tax treatment of Receipt of Pension
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 June 2011
If a person died in april 2010 and his wife received pension in the month of april 2011 on lumpsum basis for the financial year 2010-11, than what will be tax treatment of receipt of pension(which is around 20000)? Also she has received arrears amount of pension for previous years. Kindly explain the tax treatment regarding this case.
CA PARAS BAFNA
(Expert)
23 June 2011
Take both the amounts on receipt basis by showing it Income from other Sources.
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No tax liability arises to a lady upto Rs 190000/- .
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No tax liability arises to a lady upto Rs 190000/- .
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