clarication required

[Satish Aithal]

One of my clients father expired during June 2009 intestate living behind his wife & 2 sons. Locker of the diseased was opened by the Bankers as per the provisions and the contents were handed over to the legal hairs which includes certain mature bonds of Post office such as Kisan Vikas patra with a face value of Rs. 10 Lakh & Maturity value of Rs. 20 Lakhs, Indira Vikas Patra with face value of 20 Lakhs & Maturity value of Rs. 30 Lakhs. Diseased was not an Income tax assessee and hence it was not declared by him.

 

 

These bonds are matured during December 2003 and yet to be encashed. Kindly let me know the income tax implications on the interest portion of the proceeds.