Dear Members,
One of my Friend's mother received Rs 20 lakhs in her bank account contributed by various members or her friends(who are not relatives) on occassion of her husband death. What is the taxability of her? till now she has not filled any ITR in previous years
Is their any exemptions?
Thanks in Advance
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Taxability of Amount received by Widow
Replies (7)
Upto 50000 it's exempt. That means 19.50 lakhs will be taxable alongwith her other income. She will be required to file return also.
Dear Member,
Thanks for reply
Can't it be proved under exception, In contemplation of death of the payer. Does this type of matters discussed in any case law.
Thanks for reply
Can't it be proved under exception, In contemplation of death of the payer. Does this type of matters discussed in any case law.
The Act does not provide any relief or concession on this
Entire amount will be taxable. No exemption even of 50000/ will be available.
Thank You,
What are consequences if I dont file ITR
What are consequences if I dont file ITR
When the Widow received money I mean before 31-3-2019 or in current FY
Dear Pravin,
She received in Current year.
She received in Current year.
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