Without gift deed
This query is : Resolved
17 April 2014
my mother expired recently, I have joint account in bank as a second name with her. In his bank account she leaves 21000 rupee, so can i withdraw from bank by self and what to show in my IT return for this 21000 cash.
Also when she alive she gave me 50 K without any gift deed..so what to do about this too?
Also when she alive she gave me 50 K without any gift deed..so what to do about this too?
Nikhil Kaushik
(Expert)
19 April 2014
there should not be any tax implication. but ensure that if your mother had taxable income during the year, please do file her tax return as her legal heir.
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