Treatment in accounts
This query is : Resolved
26 March 2018
Dear sir/madam,
Mr X has received a sum on account of FD redemption & Bank balance as a legal heir, my question is where do we account the proceeds.
Mr X has received a sum on account of FD redemption & Bank balance as a legal heir, my question is where do we account the proceeds.
26 March 2018
All the taxable income of the deceased will be taxable in the hands of legal heir. And the exempted incomes will be treated accordingly.
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