National Savings Scheme repayments to legal heirs are not income under section 80CCA(2), and annuity payments to nominees are exempt. Amounts in a National Savings Scheme account paid on the death of the assessee to legal heirs are not within the ambit of section 80CCA(2) and are not chargeable to tax in the hands of those heirs; similarly, Gross Insurance Value elements under annuity plans paid to nominees or legal heirs after the assessee's death are not covered by section 80CCA(2) and are not taxable in their hands.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
National Savings Scheme repayments to legal heirs are not income under section 80CCA(2), and annuity payments to nominees are exempt.
Amounts in a National Savings Scheme account paid on the death of the assessee to legal heirs are not within the ambit of section 80CCA(2) and are not chargeable to tax in the hands of those heirs; similarly, Gross Insurance Value elements under annuity plans paid to nominees or legal heirs after the assessee's death are not covered by section 80CCA(2) and are not taxable in their hands.
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