FD Amount Received from Nominee .
This query is : Resolved
MANJUNATHA M.R
(Querist)
16 October 2020
Dear Experts, My Cousin Sister Tested Covid-19 Positive and passed away. She deposited some amount in Fixed deposit and I am the nominee to receive the same. My Question is that after receiving the closed proceeds of FD Amount is it taxable? if not taxable how to treat the same.? Thanks in advance
16 October 2020
It is not taxable to you. You are a 'trustee' of the deceased and the money should be given to the legal heir's of the deceased.
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