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Taxability of money received in will

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Student
273 Points Posted on 15 October 2021
I received Rs. 15 lakhs (through bank transfer) from my parents in their will, in F.Y. 2021-22. What will be it's tax treatment ?

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On 15 October 2021 at 16:05 Report
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Chartered Accountant
24588 Points Posted on 15 October 2021
Not taxable
129 Reply
On 15 October 2021 at 16:52
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85 Points Posted on 15 October 2021
Provided the amount is out of taxed amount or exempted amount
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On 15 October 2021 at 18:34
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Consultant
103 Points Posted on 15 October 2021
Exempt
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On 15 October 2021 at 21:33
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Profession Business
28207 Points Posted on 16 October 2021
Inheritance law is exempted from income tax act.
But if you have inherited any stocks and securities and the same is sold, capital gains either short term or long term .
44 Reply
On 16 October 2021 at 08:05


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