Sir, My father expired in June, 2017.
In FY 2020-21 my mother recieved arrear for my father's salary due to pay revision which was due from 1/1/2017 but sanctioned and paid in FY 2020-21.
This arrear is recieved by my mother in her savings account but the employee has deducted TDS against my fathers PAN and the credit is seen in my father's Form 26AS.
What is the tax liability if any or can my mother claim the TDS completely?
Advisable to file ITR of deceased person with the arrears and TDS claim.
Of course, by legal representative.....
Sir is the arrear anyway exempted from taxation?
As the credit for FY 2020-21 is only approx 6 lakh(i.e arrear amount) for which TDS approx 40000 was deducted by the employer.
Now, without any exemption tax comes out to be
27000 in new tax regimen
And 33000 in old tax regimen.
So i want to ask is there any clause by which the whole 40000 is exempted as it is recieved 3 years after my father's death or it will be best to go with new tax regimen and pay 27000 tax and claim 13000 return?
Thanks for helping.
Check for any savings with claim of relief u/s. 89(1) of the act. Otherwise assessment under new regime seems to be better option.
Thanks Alott sir
Seems like will have to go with the new tax regimen.
As savings are only under my mother's PAN but since my father expired three years back so there are no saving under his PAN for FY 2020-21
THANKS once again
Naveen Fintech Pvt Ltd
Kolkata
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Gupta Sachdeva & Co. Chartered Accountants
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