Hello sir, In Fy year 2022-23 , i have received rs 23 lakhs after my father `s death from his time deposits and i have invested this amount in term deposits in bank. In my income tax department`s user ID under AIS tab, department seeks asking me about feedback , under TIS i:e Purchase of time deposits, should i give optional feedback source is reciept of gift , which isn`t taxable?
Ans: You can say inheritance received from father and also attach your fathers death certificate.
Parallely, also ensure that from your fathers login, it is communicated that he is not around so that IT is aware of the same.
Please seek assistance from your CA on the same.