Whether nomination money received is taxable or not??
This query is : Resolved
09 July 2010
Dear All,
Pls provide your advice that whether amount received by the legal heir / nominee is taxable in the hands of nominee or not under any section of Income Tax Act 1961? Money is being received in case of FD.
Regards,
Neha Saini
Pls provide your advice that whether amount received by the legal heir / nominee is taxable in the hands of nominee or not under any section of Income Tax Act 1961? Money is being received in case of FD.
Regards,
Neha Saini
09 July 2010
From My Point of View it will not be as it will be covered under sec 56 here.
09 July 2010
gift as money received from blood relations are exempted u/s 56(3).even capital gains is not attracted in case of transfer by will,gift or inheritance.as under section 47
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
