Tax calculation in case of death
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2012
suppose a person dies on 31/10/xx and his assets are distributed till 31/01/xx, so for calculating income tax income till date of death is to be considered or till date of distribution??
07 December 2012
Hey
It is to be considered till date of distribution.
Thanks//Vaibhav
It is to be considered till date of distribution.
Thanks//Vaibhav
07 December 2012
Income in the hands of the deceased shall be computed till the date of his death.
Income arising after the death out of assets held by the deceased shall be taxable in the hands of the legal heir/s.
Income arising after the death out of assets held by the deceased shall be taxable in the hands of the legal heir/s.
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