Off market Credit Transactions
This query is : Resolved
24 July 2022
My aunty received off market credit transactions worth Rs. 7.5 lakhs + by way of transmission of MF units due to demise of her husband and the same is shown in AIS for FY 2021-22 .As on 31.03.2022 she continues to hold the same and has not redeemed the above MF units.
Whether the same will be taxable in her hands while computing income for F.Y. 2021- 2022 ? Whether the same to be disclosed in ITR ?
Whether the same will be taxable in her hands while computing income for F.Y. 2021- 2022 ? Whether the same to be disclosed in ITR ?
24 July 2022
It's not taxable as it's received as legal heir.
Disclose under exempt income schedule as legal heir receipt.
Disclose under exempt income schedule as legal heir receipt.
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