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Money from bank account after parent's death

Tax queries 1005 views 1 replies

Hello,

I have got money as a nominee (bank account) after my mother's death. They include both SB and FD.  I would like to know some details

1) Does it qualify as taxable income?

2) If yes, does it have any special tax rate? Or just would add to my overall income.

3) Leaving this apart, I come under ITR-2 category. If this money is taxable, does it change my category?

4) Any other special considerations for this money?

 

Thanks,

Harsha

 

 

 

Replies (1)
money received under will is not taxable...


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