For PSU employee,Whether Intimation to PSU required upon receiving Money as a nominee/heir ?

6 years ago

For a Indian serving PSU/central government employee , Whether Intimation to PSU (Department) is required/mandatory upon receiving Money (not in cash but via online NEFT/ cheque ) from LIC or Banks ,as a nominee/ heir after death of parents?

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Adv. Sarika Khude

Responded 3 years ago

A.some amount of comes to your share.

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Deepak Yashwantrao Bade

Responded 5 years ago

A.dear client I would suggest that you please find out with your HR/personnel department about it. In case the organization where you are working it is not needed as part of their internal process then you can ignore it.

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Kishan Dutt Kalaskar

Responded 5 years ago

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A.Yes, if some amount of comes to your share.

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Abhimanyu Shandilya

Responded 6 years ago

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A.Usually when you work for a PSU then on annual basis you have to submit the asset and liability statement to the organization and that gets recorded with the service sheet/book of an employee. So, next year when you have to submit the asset and liability statement you should mention there about this money and its source. I would suggest that you please find out with your HR/personnel department about it. In case the organization where you are working it is not needed as part of their internal process then you can ignore it.

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Rocky S

Replied 6 years ago

Thanks a lot Sir.In my organisation, Annual immovable property return (AIPR) need to be submitted annually. In AIPR ,inherited immovable property should be included. There are no specific guidelines for Inherited money received while on job. There is a guide lines that if any transaction above 2 lakhs to acquired Movable property need to be intimated as per central government Conduct rules. Asset and liability statement not needed here. If I keep all records of Money received (not in cash but via online NEFT/ cheque ) from LIC or Banks ,as a nominee, Can I ignore this intimation?

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