Income of expired person
This query is : Resolved
16 September 2020
My father expired in 2018. He was holding some deposits which have still not matured. TDS is being deducted from interest of these deposits which is seen in 26AS of my father. If possible, I want to continue the deposits till maturity (2023), as the interest rate is high. My querries are -
1) As I am legal heir, can I include this interest in my income and pay tax on it ?
2) Do I have to file my father's return ? If yes, can I get refund of TDS ?
3) Can I continue the deposits till marurity (2023) and show the interest as my income ? Can I file my father's returns upto 2023 ?
Thanks
1) As I am legal heir, can I include this interest in my income and pay tax on it ?
2) Do I have to file my father's return ? If yes, can I get refund of TDS ?
3) Can I continue the deposits till marurity (2023) and show the interest as my income ? Can I file my father's returns upto 2023 ?
Thanks
CA R SEETHARAMAN
(Expert)
16 September 2020
1 yes.
2 and 3 show legal heir certificate to banker and ask them to deduct TDS in your name.
2 and 3 show legal heir certificate to banker and ask them to deduct TDS in your name.
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