TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Legal heirs receiving National Savings Scheme funds or LIC annuity plans after death are not taxed u/s 80CCA(2).</h1> The circular addresses the tax implications for legal heirs receiving amounts from the National Savings Scheme after an assessee's death. According to the Board, such amounts, credited to the deceased's account and paid to legal heirs, do not fall under section 80CCA(2) of the Income-tax Act, 1961, and thus are not taxable for the heirs. Similarly, amounts paid under annuity plans of the Life Insurance Corporation to nominees or heirs are also exempt from being taxed under the same section.
TaxTMI 
TaxTMI 
