Mr. Ravi, aged 58 years, died on account of a bomb blast in a Mumbai local train. His son, Mr.Gopi, received a compensation of Rs.3 lakh from the State Government. Explain the tax treatment of the compensation received by Mr.Gopi from the State Government.
The amount received by legal heirs of the deceased person on account of disaster is exempt from tax .
The compensaion received in he case of Mr.Ravi is exemp,t out right, under section 10(10BC) of the Act.
fully agreed with V. Srinivas
Agreed with others; it is exempt
any compensation or amount given by state or central govt on occasion of disaster is fully exempt from tax so the compensstion received from state govt on account of a bomb blast in a Mumbai local train is exemp from tax
yes its exempt form income tax....
yeah...exempt 
it will be exempt as said by V. Srinivasa
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