If a person has an accidental death and the person was filing Income Tax Returns for the last three years, then the government is obliged to give ten times the average annual income of the last three years to that person's family.
Yes, you will be surprised by this, but this is right and it is Government rule.
For example, if someone's annual income is 4 lacks, 5 lacks and 6 lacks in the Ist, 2nd and 3rd years respectively, its average income is ten times of 5 lacks, means 50 lacks rupees, family of that person is entitled to receive from the Government.
In the absence of much information, people do not take this claim with the Government. If any return is missing, mainly last 3 years, this could lower the claim amount or even no claim because court takes ITR as only evidence.
No wealth record FDs, Business etc is giving that much importance as compared to ITR in the eyes of law.
Many a time, people do not file ITR regularly or it will be taken lightly. Due to lack of information the family receives no economic benefits.
(Source-Section 166 of the Motor Act,1988 (Supreme Court Judgement under Civil/appeal No 9858 of 2013 arising out of SLP(c)No 1056 of 2008 dt 31 Oct, 2013)
Yes, you will be surprised by this, but this is right and it is Government rule.
For example, if someone's annual income is 4 lacks, 5 lacks and 6 lacks in the Ist, 2nd and 3rd years respectively, its average income is ten times of 5 lacks, means 50 lacks rupees, family of that person is entitled to receive from the Government.
In the absence of much information, people do not take this claim with the Government. If any return is missing, mainly last 3 years, this could lower the claim amount or even no claim because court takes ITR as only evidence.
No wealth record FDs, Business etc is giving that much importance as compared to ITR in the eyes of law.
Many a time, people do not file ITR regularly or it will be taken lightly. Due to lack of information the family receives no economic benefits.
(Source-Section 166 of the Motor Act,1988 (Supreme Court Judgement under Civil/appeal No 9858 of 2013 arising out of SLP(c)No 1056 of 2008 dt 31 Oct, 2013)
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