intestate death of individual

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This query is : Resolved

VIJAY KUMAR SHARDA (Querist)

18 April 2011 An assessee is having Income from house property say Rs.four lakhs per annum.He died intestate leaving behind three sons. My query is as under
1) After the death of the assessee whether the said income of house property shall be divided to three sons and shall it be reported alongwith their own incomes. All the sons are having their individual incomes and filing their returns.

OR

2) can we file separate return in respect of house property Income of the deceased person as AOP as per section 168(1)(b)and need not club the said income of house property with individual income of sons.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)

19 April 2011 Section 168 applies only where the Estate is administered which generally happens in terms of the court order
In this case the prop will devolve uon the sons as per the inheritance law which will have to reported as either HUF INcome or indl income

VIJAY KUMAR SHARDA

VIJAY KUMAR SHARDA (Querist)

22 April 2011 TANK Q MANOJ GUPTAJI, PLEASE CLARIFY SHALL WE DIVIDE THE INCOME FROM HOUSE PROPERTY AFTER DEDUCTING MUNCIPAL TAXES AND STANDARD DEDUCTION TO ALL THE THREE SONS BEING LEGAL HEIRS AND REPORT IN THE THE SAME IN THEIR INDIVIDUAL INCOMES SINCE IT IS NOT HUF PROPERTY.

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CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)

22 April 2011 yes
CA MANOJ GUPTA

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