Mother was a pensioner. She stopped receiving her pension for about two years before her death (year 2012) due to some issues in the pension disbursing agency. This amount of unpaid pension was claimed by son (nominee), and it was credited to son's account in year 2024. How should this amount be treated for income tax return filing? Will this amount be taxable or non-taxable? Under which IT section (like section 56 etc.) should it be reported in the ITR for FY2024-2025 (AY2025-2026)? Thank you in advance for any response.
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Fund claimed as nominee of deceased Parent
Replies (2)
Quick Summary
Taxability: Generally, pension arrears received by a nominee are taxable under the head "Income from other sources" if the pension was due to the deceaed
Section Reference: Section 56 of the INcome Tax Act deals with income fro other sources.
Reporting in ITR: The amount might need to be reported in the INcome Tax Return (ITR) for FY2024-2025 (AY2025-26) under "Income from Other Sources".
Hello Sir,
Thank you for answering my query. It is clear now.
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