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MF LTCG TAX LIABILITY OF DECEASED PERSON

This query is : Resolved 
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(Querist)
19 February 2024 Say, a person successfully lodges mutual funds’ (equity) redemption request on 15-January-2024 at 8:00 am. This person dies on the same day at 11:00 am. The redemption amount is credited to the bank account of this person (his wife is the joint holder in this bank account) on 16-January-2024. Capital gain statement is showing that date of redemption is 15-January-2024. In this scenario, who is liable to pay tax on capital gains, the deceased person (by Legal Heir) or the surviving wife?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 February 2024 Legal heir is liable as redemption date is 15th the date of death.
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Surajit Bhattacharya

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Surajit Bhattacharya (Querist)
20 February 2024 Thank your very much Sir for the explanation.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 February 2024 You are welcome..
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