Ppf & mis amount taxable after on death of a/c holder?

Hi,

My father had a PPF account for over 15 years, after his death the account was closed and the entire amount in the account was transferred to the nominee (in this case my mother).

Similarly, he also had a Monthly Income Scheme with the Post Office, which was closed and the amount was transferred to my mother.

Now I want to know if both the amounts will be considered taxable and will be included in my mother's tax returns.

Thank You.

Replies (2)

Tax over interest part over MIS calculated from the date of death of deceased, will be chargeable in the hands of nominee; but total amount received from PPF account will be tax exempt.

tax over interest portion will be chargeable and ppf income would be exempt.

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