My mother was LIC agent. As I was nominee, after her death I keep receiveing LIC Commission in my account.
Shall I Fill this amount in Schedule SPI or OS.
If I Fill SPI this amount is not taxed. but
If I fill add this income in OS it is taxed.
My mother was LIC agent. As I was nominee, after her death I keep receiveing LIC Commission in my account.
Shall I Fill this amount in Schedule SPI or OS.
If I Fill SPI this amount is not taxed. but
If I fill add this income in OS it is taxed.
The commission amount was taxable in her hands..... same way it is taxable in your hands !!
SSGS and Associates
Chennai
CA Inter
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