Taxability of unutilised deposit under the Capital Gains Accounts Scheme, 1988*, in the hands of the legal heirs of the assessee

Taxability of unutilised deposit under the Capital Gains Accounts Scheme, 1988*, in the hands of the legal heirs of the assessee - Reg. https://www.taxtmi.com/circulars?id=5125 Where an individual assessee dies before the expiry of the stipulated utilisation period for deposits made under the Capital Gains Accounts Scheme, the unutilised deposit amount is not taxable in the hands of the deceased or in the hands of the legal heirs; the unutilised portion does not become income of the heirs but remains part of the deceased's estate devolving upon them. en-us Mon, 06 May 1996 00:00:00 +0530 Sat, 09 Aug 2008 15:25:00 +0530 TaxTMI RSS Generator Taxability of unutilised deposit under the Capital Gains Accounts Scheme, 1988*, in the hands of the legal heirs of the assessee - Reg. https://www.taxtmi.com/circulars?id=5125 Where an individual assessee dies before the expiry of the stipulated utilisation period for deposits made under the Capital Gains Accounts Scheme, the unutilised deposit amount is not taxable in the hands of the deceased or in the hands of the legal heirs; the unutilised portion does not become income of the heirs but remains part of the deceased's estate devolving upon them. Circulars Income Tax Mon, 06 May 1996 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5125