Compensation towards the court case settlement

anup (trainee) (89 Points)

17 January 2020  
Hello

I have a query. The court matter I'm fighting for years is going to be settled in a couple of days. I will receive compensation amt of 29lks. My question is

1. If I receive the amt by DD, and make an FD in bank, what tax, if any, will be applicable to me on the principle amt ie 29lk.
2. The said amount will be deposited in the account of my mother who is a housewife, senior citizen who has a PAN but hasn't filed her IT return yet. What if she doesn't file her return after depositing the amount in FD in her name?
3. If tax is applicable on the principle amount, what methods I can follow to minimise it?

Thanks in advance