Amount recd by way of nomination ,
Minalal Bhansali (72 Points)
02 December 2019Minalal Bhansali (72 Points)
02 December 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160292 Points)
Replied 02 December 2019
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...