Deceased income tax return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 April 2011
My mother passed away 3 yrs ago at the age of 66. We have recently found some bank deposits in her name which are earning a interest income of roughly 1.5 lac each yr.
1. Do we need to file a return on her behalf? 2. Is it mandatory to file her return?
3. Since she was a senior citizen at the time of her death, i m assuming tht this income will not be taxable. Am i correct?
1. Do we need to file a return on her behalf? 2. Is it mandatory to file her return?
3. Since she was a senior citizen at the time of her death, i m assuming tht this income will not be taxable. Am i correct?
Aditya Maheshwari
(Expert)
06 April 2011
In case TDS being deducted by bank u should file return to claim the refund otherwise since income is below exemption for senior citizen of Rs. 240,000/- then there is no need to file return.
Also distributed her assets to all their legal heirs and close all her accounts and file a last return of her and write a letter stating that your mother has deceased and kindly cancel the P. A. No. alloted to her.
Also distributed her assets to all their legal heirs and close all her accounts and file a last return of her and write a letter stating that your mother has deceased and kindly cancel the P. A. No. alloted to her.
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