01 July 2016
My friend,s dad was working in IOCL and suddenly he passed away. Now his family is getting some huge amount under different heads i.e, Tatkal Sahayata Yojana, Gratuity, EL Encashment, SL Encashment, Commuted Pension. Some of this amount was credited to his wife account and some amount to his son who is a major and some amount to his minor Child. Now how to account all these income i.e, under whose name we have to file the return, one more thing is the amount they hot had beem converted by them into fd (some amount on his wife and some on the two children) and how to claim tds credited to my friend's dad account. Kindly help me in this issue
01 July 2016
Some are exempted like gratuity. Some part of encashment taxable. TDS might have been deducted based on taxability. Either of one can be legal heir based on legal heir certificate obtained from local authorities.
02 July 2016
while i am registering as legal heir, it is asking me to upload five documents namely: 1. Copy of death certificate 2. Copy of pan card of deceased 3. Self attested pan copy 4. Legal heir certificate 5. Affidavit in presence of notary public My doubt is whether we have to submit all of the above or any one of the above, and Self attested pan copy of whom, how and where can we get 4 and 5 specified above
02 July 2016
You have to submit all of the above. It is your pan copy self attested. 4 you will get it from Thasildar and 5 go to the Notary public you will get it.
04 July 2016
Hii sir, Kindly help me whether following income of a deceased person are taxable or not in the hands of legal heir and under which head: 1. Gratuity 2. EL Encashment 3. SL Encashment 4. Commuted Pension 5. Refund of excess recovery of Capital Assets 6. Amount received under Tatkal Sahayata Yojana
04 July 2016
It will be taxed in the name of your friend's dad hands only. Legal heir is only a representative filing the return on behalf of his father. See the Form 16 and furnish the details on TDS deductions. No TDS will be deducted on exempted income.
16 July 2016
Hi sir in the above case I had asked you there are totally 3 legal heirs. So my friend want to get NOC from other two Kindly get me some format for that NOC And if possible get me a format of affidavit that he has to get Thanq sir
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