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 !!
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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