Fixed deposit amount receieved after mother death

Efiling 812 views 1 replies

Hi,

I have few doubts regarding my income tax filling. here are the list of doubts:-

1) My mother has few fixed deposit (kisan vikas patra) on her name and i am the nominee for them.My mother had taken 30000/- FD in 2002 which was matured on 2010 but in between my mother has passed out  in 2006. Now i have broken these FD in OCT 2012. On breaking of FD i have received around 64200/- .I want to know ithat  do i need to show 60000 amount in ITR form anywhere or i need to get some stamp paper proof for income tax if yes, Please let me know where to show that amount. I will add 4200 amount in my Interest income.

2) I have received RS1380/- as refund by Income tax for AY 2009-2010. Do i need to show that amount anywhere in ITR form if yes, pleae let me know  the section name in ITR form?

Replies (1)

Hi Manoj,

Principal amount received on matuirity of your instrument is a Capital Reciept and therefore it does not form part of your income.

2ndly u dont have to show this 60000 anywhere in ITR return.

As far as IT refund is concerned u can offer only Interest portion of the refund and not the enire refund amount...

Regards...


CCI Pro

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