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.
Vivek Mairothia (scientist) (21 Points)
26 July 2018My 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.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195637 Points)
Replied 27 July 2018
The commission amount was taxable in her hands..... same way it is taxable in your hands !!