Taxability of amount received by way of inherittance
This query is : Resolved
vineesh chandran.k
(Querist)
12 July 2012
Dear Sir,
Situation
Mr.X's father has died on 31-12-2011 and he received Rs.10,00,000 by way inherittance.
Doubt.
is it taxable or not?
Kindly provide the section also.
Situation
Mr.X's father has died on 31-12-2011 and he received Rs.10,00,000 by way inherittance.
Doubt.
is it taxable or not?
Kindly provide the section also.
CA Lokesh Pokharna
(Expert)
12 July 2012
if this amt received under will or an irrevocable trust than it won't treated transfer hence cant be liable for tax...
if this amt received under will or an irrevocable trust than it won't treated transfer hence cant be liable for tax...
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