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409 views • Question added Aug 07, 2015 • Income Tax • By vishnu gupta , CA , Alwar


In case of the death of the assessee how the ITR will be filed ??????

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Bhavesh

13-Aug-2015 , 11:28:52 am

The legal representatives will have to file returns in the deceased’s name for income earned till the date of death. Subsequent earnings are to be taxed in the hands of the legal representative/executor of the deceased’s estate. So if an individual died on 12 June 2014, his legal representative will have to file on his behalf for the financial year 2013-14 as also for the income for three months of 2014-15 in the next assessment year. The only difference in filing return one self and by legal assessee is that in case of alive assessee, he himself or through person authorised by him files Income Tax Return whereas in case of deceased assessee liability to file return and pay taxes is either on legal representative or executor. Process of tax calculation, filing returns remains the same. How to get the information, making senses of information to file the returns like Bank accounts statements, Form 16, well that’s a battle or war that you would have to fight. Example : Kirit inherits a fixed deposit (FD) of Rs. 10,00,000. Shruti inherits an apartment from her father which was rented out. Interest received from the FD and rent received from the apartment before the death would be taxed as income of the deceased. The interest received from the FD and rent received from the apartment after the death would be taxed in the hands of Kirit and Shruti respectively

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CA ANIL D. SARAF

16-Aug-2015 , 05:16:52 pm

In case of death of the assessee, return can be filed by the representative assessee. Documents required are : Death Certificate, PAN of Representative Assessee, and succession certificate issued by a Court. Get the succession certificate from the Court in the name of representative assessee. Login to the deceased assessee's account at incometaxefilling site. Register as a Representative Assessee. Upload the documents. The representative will be added and deceased account has been transferred to Representatives account. While submitting the Return, Representative has to log in self account at income tax site and may file the return.

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