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Amount recd by way of nomination ,


Minalal Bhansali   02 December 2019

Minalal Bhansali

 1 likes  47 points

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amount recd by way of nomination in a case where it is on interest with a pvt individual under which section to be declared and is it taxable? Amount is received from maternal ante.

avater

Dhirajlal Rambhia (KVO Merau Kutchh)     02 December 2019

Dhirajlal Rambhia
KVO Merau Kutchh 
 9224 likes  93325 points

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As there is no inheritance tax, any amount received by legal heir/s of a deceased is not taxable under IT act... be it nominated or otherwise....

Sec. 56(2)(x) of IT ct...


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