Depoist
Prasad
(Querist) 26 August 2017
This query is : Resolved
My mother expired one year back . she has depoisted money in her name in two post-office ( one post office during her stay in her home town and another after her marriage and both accounts still contiues) and i am nominee mentioned in FD receipts.i stay along with my family in same district in different place. IS this money that i am going to accuire through nomination is TAXABLE? . i have depoist in same post-office and if this amount i am going to get is taxable ?
Rudrawar Narayanreddy
(Expert) 26 August 2017
The quantum of amount is not stated. Income upto 2.5 lambs no tax. Income means the annual interest amount you get. On the total interest you got for the year if exceeds you have to pay
See on met for slabs.
Rudrawar Narayanreddy
(Expert) 26 August 2017
The quantum of amount is not stated. Income upto 2.5 lakhs no tax. Income means the annual interest amount you get. On the total interest you got for the year if exceeds you have to pay
See on net for slabs.
Some banks give amount to nominee and some pay when produced order from court meet post master who will guide you.
Rajendra K Goyal
(Expert) 27 August 2017
The proceeds are not taxable.
Interest on the income from this amount in your hand would be taxable.
