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Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2018 An assessee has got long term capital gain earned in may 2017 supposing he expires can the representative assessee i.e his son can invest in 54F and can he claim the tax benefit U/S 54F. Assessee's wife is still alive, guide us what is to be done

Shrinivas (CA, LLB, CISA)

Shrinivas (CA, LLB, CISA) (Expert)

30 March 2018 Yes, the benefit can be claimed by the legal heir, provided the income is also assessed in the hands of the legal heir..

On the return, the name should be mentioned as “late (name of deceased) through legal heir (name of person filing)”. The legal heir should also submit a copy of the death certificate of the deceased, and submit the Permanent Account Number Card (PAN Card) of the deceased.

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