Filing return
This query is : Resolved
03 February 2010
One person is getting interest income which is shown in other sources every year. He is an employee of public sector company. He died in Oct, and his income transfered to his wife's name. Now her wife received Form 16A for the year from the company in her name only.
So the querry is while filing return whether income is to be shown in the name of her wife or.. income should be bifurcated ,i.e., till Oct in name of that Person and after Oct in name of her wife??
Please help me out of this situation.
So the querry is while filing return whether income is to be shown in the name of her wife or.. income should be bifurcated ,i.e., till Oct in name of that Person and after Oct in name of her wife??
Please help me out of this situation.
CA Shishir
(Expert)
03 February 2010
Till October, the income should be filed in the name of the assessee. After the death, the income will be taxable in the hands of nominiee (wife in the given case).
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