Cash received in inheritance
This query is : Resolved
05 March 2014
amount of rs 60 lakh received in case of inhertitance to wife from her parents. plz tell me treatment of this situation in books of wife for accounting or tax purpos in a.y. 2014-15
05 March 2014
it is exempted as there is no income as per income tax act and sec 56(2) also exempts it...
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