Nominee tax exemption: amounts received on death under specified pension scheme are not treated as nominee's income. The amendment excludes from taxable income sums received by a nominee on the death of the assessee under the specified Central Government pension scheme, ... Summary
Nominee tax exemption: amounts received on death under specified pension scheme are not treated as nominee's income.
The amendment excludes from taxable income sums received by a nominee on the death of the assessee under the specified Central Government pension scheme, specifying that such amounts shall not be treated as the nominee's income; this change applies prospectively from 1 April 2017.
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