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54ec long term capital gains bond


7949RAJ   12 July 2019

7949RAJ

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What happens if the first holder of a capital gains bond dies when the account before the death is held by three people but there is dispute in between the other two holder after death of the first holder?

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Dhirajlal Rambhia

Dhirajlal Rambhia (KVO Merau Kutchh)     12 July 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
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Nominee can file request to get the balance amount.

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Priya Kashyap

Priya Kashyap (Student)     12 July 2019

Priya Kashyap
Student 
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shared
Shankar M.

Shankar M.   12 July 2019

Shankar M.

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interest amount exempt limit
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Suresh Thiyagarajan

Suresh Thiyagarajan (Student)     12 July 2019

Suresh Thiyagarajan
Student 
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1. The facility of nomination is also available for sec 54EC bond.
2. In case of the death of individual nominees can register the bonds in their name and receive interest. There are no restrictions on such transfer and interest income earned will be taxable in the same manner as before. 
Please correct me if the above solution has an alternative view. 

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Priya Kashyap

Priya Kashyap (Student)     12 July 2019

Priya Kashyap
Student 
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yes above all mentions are correct

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RAM KUMAR GUPTA

RAM KUMAR GUPTA (ADJUNCT PROFESSOR AND VISITING FACULTY ON BANKING & FINANCE)     13 July 2019

RAM KUMAR GUPTA
ADJUNCT PROFESSOR AND VISITING FACULTY ON BANKING & FINANCE 
 7 likes  480 points

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Since joint holders are there, nominee cannot claim the amount at all. Since the first holder has expired, the remaining money will be paid in  joint name of the remaining joint holders. (Being three joint holders-one has expired and therefore 2 still remains). These two will also be only trustee of the entire money on behalf of legal heirs of the deceased. The joint holder may be  legal heir or not, it depends their relationship. Any confusion, please send a mail to me at rkgupta1949 @ hotmail.com

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