14 April 2012
e.g. Mr x dies on 15.4.2011. He has FD of Rs . 100000/- @ 10% p.a. the FD still remains as on 31.03.2012 Then how much will be taxable in the hands of late Mr. X and his family members
14 April 2012
After Mr. X death that income shall be taxable in the hand of person (who get all assets and liabilities of Mr. X). so that income taxable in the hand of benefical person. taxbale income is Rs. 10000/-(interst income)for the FY11-12.
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