If Interest is earned on a 5-year term deposit, which is in the name of the deceased,
Will that interest be included in income of legal heir ?
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Interest Earned on 5 Yr term deposit of Deceased
Replies (4)
Only interest earned/accrued after death of the person is taxable in hands of heirs.
Interest is taxable subject to provisions of Sec 80TTA AND 80TTB AS THE CASE MAY BE IN CASE OF THE NATURE OF ASSESSE.
| Originally posted by : Dhirajlal Rambhia | ||
 |
Only interest earned/accrued after death of the person is taxable in hands of heirs. |  |
Perfect
Thanks.
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