POSTED BY September 16, 2013 5:58 pm COMMENTS (5)ON
1.My father expired few months back and My mom has received 4 lakh of insurance amount and my father and Mom had a joint saving account where first account holder was my dad . In savings account he had 4 lakh rupees.
2. I have made the FD of 4 lakh in the name of my mother and i want to make another FD of 4 lakh, overall interest per annum is 9% total earning would be round about 72000RS if i keep another FD of 4 lakh.
My question is do my mom has to pay any tax on the interest earn. because my mom has no other source of income so should she needs to fill only form 15g or i have to file my mom itr.
Please suggest me?