AFTER THE DEATH OF MY FRIEND, HIS WIFE RECEIVES SOME MONEY OUT OF HUF PARTION AND CLUBBED WITH HER INDIVIDUAL MONEY AND ASSESSED TO FURTHER YEARS IS CORRECT OR NOT?
SATYANARAYANA (PARTNER) (22 Points)
14 September 2017AFTER THE DEATH OF MY FRIEND, HIS WIFE RECEIVES SOME MONEY OUT OF HUF PARTION AND CLUBBED WITH HER INDIVIDUAL MONEY AND ASSESSED TO FURTHER YEARS IS CORRECT OR NOT?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160886 Points)
Replied 16 September 2017
Yes, but it is capital receipt....... not taxable.............
Any income generated from it will be taxed in her hands.
CAclubindia
