kindly tel me whether the amount received by legal hier on a maturity of PPF A\C is taxable in the hands of legal hier????
4 Replies
vipul patel
(Ahmedabad)
(320 Points)
Replied 13 June 2011
Duration at Death Benefit Payable to nominee/legal heir ... the fund by opening an PPF a/c in a post office, any branch of State Bank of .... If one goes for income funds, the dividends received would be taxed as per ... And the maturity amount, if you survive the full term of the policy, is Exempt from tax
Paras
(Mcom,CA Final)
(122 Points)
Replied 13 June 2011
Not taxable as per PF&M.P. act 1952 nothing can be charged on amount due on PPF a/c due to heirs . and not chargeable to tax as per I-T Act 1961
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 13 June 2011
| Originally posted by : Paras | ||
 |
Not taxable as per PF&M.P. act 1952 nothing can be charged on amount due on PPF a/c due to heirs . and not chargeable to tax as per I-T Act 1961 |
 |
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