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Excerpt: My client having FDRs in Banks, Investment in NSCs, & 5 year tax saving deposits etc., Nominations for the said deposits made in the name of family members like wife, Son, daughter and grad son etc., Each year he is reporting the Income from said deposits on accrual basis.He expired on 17-8-2008. My doubts are as under. 1) In whose a/c the interest earned on said deposits for the period after his death (18-8-2008 to 31-3-2009 )reported ? Whether interest for the period from 18-8-2008 to 31-3-2009 reported in Nominees a/c ? 2) Can we continue the I.T. File of…
