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Capital gain on sale consideration received by the legal heirs of deceased assessee
Amount of sale consideration on sale of Residential received by the wife on death of Individual Asseessee, what are the tax treatment under section 54 of income tax act? what is the meaning of Assessee in the context of Section 54 of Income Tax Act
Replies (5)
Taxability depend at the time of transfer and not at the time of receipt... as legal representative wife can file the return of husband....
Tax treatment will be same just need a register as representative assessee
Tax treatment will be same just need a register as representative assessee
Property is in the name of deceased individual. Only advance received upto this date and this advance received by Wife of deceased. is there any exemption available to wife under section 54 of income tax act ?
Yeah She Claim Same As his husband
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