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AFTER DEATH

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(Querist)
28 November 2010 if my father has died, so i get money from his bank a/c as i was nominee/legal hiers.

will it be included in my income?
Is it taxable under income tax act?
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CA. BHAVIK DILIPBHAI MEHTA

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CA. BHAVIK DILIPBHAI MEHTA (Expert)
28 November 2010 Yes the same will be included in your income.
Yes the same will be taxable provided your income exceeds the minimum taxable limit.

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