18 February 2016
Respected sir, I'm pranav shet. My grandfather passed away in nov 2014. My mother was nominee of the said amount. He had few F.D s. Are the proceeds which my mother has recieved is taxable in her hands? Or only the interest part is taxable. Please reply sir.
18 February 2016
The FDs received are NOT taxable. The interest earned on the said FDs, if any, after the sad demise of your grand father, is taxable in her hands.
CAclubindia
