dear colleagues,
gud noon,
ek client hai unhone apne mother k liye 30 lac k lic pension plan liya hai... lekin unhone mtlb son ne apne a/c se 30 lac pay kiye hai or policy/plan mother k name se hai.. toh uss 30lac ki entry ka son ki books me kya adjustment hoga????
regards,
Menu
LIC pension plan.....
Replies (7)
Treat it as an Investment in the books of son
Vishal sir pura clear kro... aapka mtlb ki son ki books me assets side me show kru or mother ki ITR me bhi same side show kru
U mentioned paid by son from his account so treat it as an investment asset side in the books of son and as in the books of mother if she is filing return consider as Income from salary if pension received in annuity and also u can taken standard deduction of 50000/- from salary for the mother.
Ohhk sir got it... actually last CA ne Mother ki books me bhi investment show kr rkha hai...toh vo wrong hi hua na
Yes that's wrong
Or sir thank you so much... ek last confusion or hai ki mother k itr me income from other sources show kru ya salary??? mene abhi income from other sources head me show kr rkha hai
It is taxable as Income from salary not IFOS
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