What to do if person death.

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Ashim kr Ray (Querist)
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21 June 2024 Sir,

My friends mother is expire on april 24 , now i want to know in his IT file she have 7lac cash in hand,and 8lac in bank.
can his son transfer 8 lac in his bank account and can utilised cash in hand.
What is rule please advise.
WHen to block bank account and pan card

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 June 2024 If he is only legal heir, he can. Whether he is joint holder in the bank account or nominee?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 June 2024 Transfer bank balance and close bank account.
Cash transfer of 7 lacs can be shown as legal heir.
File ITR and then close PAN card.

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