21 November 2013
Assessee expired in December 2011 was having lot of investment in fixed deposit, Bonds, post office etc . All the assets are not transferred in the name of heirs and interest is being received and tds deducted in the name of late assessee during the financial year 2012-13 & 2013-14. So what shall be the treatment of Income and how to claim the refund of TDS . can we file the return for next 2 years after the death of the assesse.
21 November 2013
the income shall be taxed. The return shall be filed by the representative asseesee. tax liability/ refund shall lie with the legal representative. Refer section 159.