Do we have to show bank balance and FD transferred in our account on death of father in our ITR? If yes, under which head of income?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 30 July 2024
It is exempt as per sec. 56(2) IT act.
sabyasachi mukherjee
(27574 Points)
Replied 31 July 2024
Inheritance can also be termed as remittance
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