Father: Died Dec 2010
Total Income in FY 2011-2012: Income from investments (deceased person's estate) - (FD, Mutual funds, Equity shares)
TDS deducted at source, will be claimed back in return ~ INR 20,000
Son: Sole Legal Heir
Income in FY 2011-2012: Income from investments (FD, Mutual funds, Equity shares)
TDS deducted at source, will be claimed back in return ~ INR 20,000
Question: Is it mandatory to file clubbed returns for FY 2011-2012? Or can I continue to file separate returns (like I did for FY 2010-2011), especially since I need to claim TDS refund for both myself and father?
Any other tips/comments will be greatly appreciated.
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Clubbed returns - deceased father + sole legal heir?
Replies (2)
You can file separate return only for F.Y. 2010-11. from f.y. 2011-12 onward you have to file only your return incuding income generated from the estate of father.
| Originally posted by : CA Shantanu Goyal | ||
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You can file separate return only for F.Y. 2010-11. from f.y. 2011-12 onward you have to file only your return incuding income generated from the estate of father. |
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Thank you for your reply. It is what I was suspecting. The reason I wasn't sure is because I could not find it written anywhere. Would you be able to share the referece please? Is this defined in the IT Act?
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