Income tax return 2014

ITR 417 views 1 replies

Hello,

I am working on filing return for my mom who is 61 . My mom gets family pension after my dad . I needed to know which column to show that under Other Sources in ITR-2. I am showing interst income on Fd under interest income. I was not sure where to show pension. I am filing ITR-2 for her as she has exempt income more than Rs.5000. Also since I am e-filing the return for her, do I have to show myself as a representative assessee? My mom is available to sign the hard copy of ITRV to be sent by post.

Also I was a NRI for FY 2013-2014 and I filed my return couple of days back to claim TDS deducted on my NRI bank account. My Gross total income was way below the exemption limit-around 50k. But I made an error by putting in Rs.10000 under 80TTA( NRIS's are not allowed that). Even though the final deductions are zero but do I have to rectify my return to not show that. I need not have filled up any deductions ideally but I somehow made this error.

Please advise.

Thanks

Archana

 

Replies (1)

Pension income received by your mom is taxable under section 56 under the head “Income from other sources”. 

You can avail standard deduction U/s 57 which is 1/3 of such pension or Rs 15000 whichever is lower.

1) You can show the pension income under row “d : Others, Gross (excluding income from owning race horses)”

 2) You are not require to show yourself as representative assesse 

3) regarding mistake you have made, you can revise the return filled by you

In case you need any further assistant feel free to ask


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register