Tax treatment

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2016 My clients father's sister's husband(Uncle of my client) Nominate my client in Bank FD,Flat etc. Now he received some money from Bank FD around 21 lacs (because he is Nominee in the same)
Now my Question is the amount and other assets received by my client which is taxfree or taxable.and to avoid tax what is solution for that.
Thanks N Regards
Vikas

Amol S Joglekar

Amol S Joglekar (Expert)
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08 June 2016 the sum and assets received by the nominee are NOT taxable. The income derived out of the said estate will be taxable from the subsequent year

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