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Amount recd by way of nomination ,
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.
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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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