Minalal Bhansali 02 December 2019
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.
Dhirajlal Rambhia (KVO Merau Kutchh) 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...
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