Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Hemendra Vyas   07 July 2021

Tax liability on FD amount received as inheritance

Hi,

My father had one FD in which I was nominee. 

He did that FD in FY 2020 and passed away in Jan 2021. Maturity of that FD is in Oct 2021.

Do I need to pay tax on interest received?

Thanks



 3 Replies

Nihit

Nihit (Accounts executive)     07 July 2021

No fd interest income can be claimed deduction under 80c
VISVANATH V

VISVANATH V   07 July 2021

Nope,  its absolutely tax free. There is no need to report it

1 Like
Krishna Chaudhary

Krishna Chaudhary (Accountant)     07 July 2021

FD received will exempted but the interest on it will be taxable under IOS. You have to show such interest in ur ITR and pay tax on it.
2 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading
Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags