mother bank account closed & balance received son account after her death. how i treat in tally & income tax. Mother income received by son after her death. Not Only the bank balance. my mother income are royalty, bank interest & etc. all is received by her son after his death.
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Mothers income received by son after her death
Replies (3)
its not income of son but capital receipt
not taxable in hands of son
| Originally posted by : U S Sharma | ||
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its not income of son but capital receipt not taxable in hands of son |
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He is correct
the amt recd by the way of will or any other related means is not taxable in the hands of receiver
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