CG taxation on death of assessee

471 views
User Avatar

101 Points Posted on 29 March 2023
Does one need to pay tax on Capital gains in the assessee passes away during the FY and after disposing of one's share holding investment causing a LTCG tax liability of
say Rs 45 k ....
(in case of Super senior citizen does the representative assessee has to discharge any such tax)

Gratefully obliged for a professional response..

thanks 🙏
0 Reply Share Follow
On 29 March 2023 at 13:25 Report
Replies (3)
Quick Summary
This discussion clarifies that if an assessee passes away with a capital gains tax liability, their legal heir is responsible for filing the return and settling the tax. The legal heir can also invest the capital gains consideration by March 31st to minimise the tax burden under the capital gains scheme.

User Avatar

SEO Sai Gr. Hosp.
212453 Points Posted on 29 March 2023

Yes, legal heir is required to file his return and discharge tax liability, if any.

Reply
On 29 March 2023 at 13:55
User Avatar

101 Points Posted on 29 March 2023
Thanks
would be interested in tax saving if CG consideration be deposited by 31/3 to minimise tax burden under capital gains scheme.
is there any scope or tax or interest minimise before ITR filing
Reply
On 29 March 2023 at 16:51
User Avatar

SEO Sai Gr. Hosp.
212453 Points Posted on 29 March 2023

Yes, it can be invested by legal heir and tax can be saved.

Reply
On 29 March 2023 at 18:02

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. GST on Fixed Assets
  2. GST ITC april 22
  3. GST PAYMENT REGARDING
  4. GST Consultation Required – June–Augus
  5. TDS Code for Salary Payment to Non-Resident Intern
  6. TDS on property
  7. Company data for software
  8. Car purchase to be eligible for ITC
  9. GST Refund on payment to builder
  10. TDS u/s 194Q on electricity supply by DHBVN etc.

More recent discussions | Post

Related Topics :

Loading