https://www.taxtmi.com/forum/issue?id=120791 Balances and fixed deposits inherited on a relative's death are treated as inheritance and are not taxable if income of the deceased to date of death was disclosed; interest accruing after transfer is taxable as Income from Other Sources. Sums routed through a third party may be treated as inheritance or, if from a relative, as an exempt gift provided supporting documentation is retained. Insurance compensation on death is exempt as insurance proceeds, though subsequent interest on retained amounts is taxable. Filing an income tax return is advisable to declare taxable interest and evidence exempt receipts. en-us Wed, 04 Mar 2026 11:48:09 +0530 Sun, 08 Mar 2026 08:21:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120791 Balances and fixed deposits inherited on a relative's death are treated as inheritance and are not taxable if income of the deceased to date of death was disclosed; interest accruing after transfer is taxable as Income from Other Sources. Sums routed through a third party may be treated as inheritance or, if from a relative, as an exempt gift provided supporting documentation is retained. Insurance compensation on death is exempt as insurance proceeds, though subsequent interest on retained amounts is taxable. Filing an income tax return is advisable to declare taxable interest and evidence exempt receipts. Discussion-Forum Income Tax Wed, 04 Mar 2026 11:48:09 +0530 https://www.taxtmi.com/forum/issue?id=120791