Income tax post death
This query is : Resolved
05 November 2021
My late father had some money in the bank and I am the nominee.
There are 3 heirs including me.
If the nominee is in possession of that money for 6 months after which it will be distributed to the heirs.
So who will pay income tax on the income generated in the 6 months prior to distribution?
1. Nominee or
2. All 3 heirs
Thanks
There are 3 heirs including me.
If the nominee is in possession of that money for 6 months after which it will be distributed to the heirs.
So who will pay income tax on the income generated in the 6 months prior to distribution?
1. Nominee or
2. All 3 heirs
Thanks
Dhirajlal Rambhia
(Expert)
05 November 2021
Nominee.. unless the same is shared by all three, by internal adjustment.
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