Taxability of death proceeds of father in law in hands dil
This query is : Resolved
18 February 2016
Respected sir,
I'm pranav shet. My grandfather passed away in nov 2014. My mother was nominee of the said amount. He had few F.D s. Are the proceeds which my mother has recieved is taxable in her hands? Or only the interest part is taxable. Please reply sir.
Waiting in anticipation for your reply.
I'm pranav shet. My grandfather passed away in nov 2014. My mother was nominee of the said amount. He had few F.D s. Are the proceeds which my mother has recieved is taxable in her hands? Or only the interest part is taxable. Please reply sir.
Waiting in anticipation for your reply.
18 February 2016
Only interest is taxable. FD s will be exempted from tax.
18 February 2016
The FDs received are NOT taxable. The interest earned on the said FDs, if any, after the sad demise of your grand father, is taxable in her hands.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- REGARDING GST LIABILITY/....
- GST ON DAMAGED GOODS
- Free lancer income
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
