Inheritance1

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Ecstasyvio (Querist)
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09 June 2024 My mother passed away two years before .her 1/3rd share of money will come to me.what is the tax treatment.?

Dhirajlal Rambhia (Expert)
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09 June 2024 Exempt u/s. 56(2) IT act.

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Ecstasyvio (Querist)
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10 June 2024 so need not be shown anywhere in ITR?

Dhirajlal Rambhia (Expert)
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10 June 2024 Better to declare it under Schedule EI.

Ecstasyvio (Querist)
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10 June 2024 thanks for the timely advice

Dhirajlal Rambhia (Expert)
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10 June 2024 You are welcome.

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