Yogesh Shah (Managing Corporate Finance) (1051 Points)
11 March 2010
If some income is still received by family members of deceased assessee (which used to belong him), how to treat such income?
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 11 March 2010
tax on such income if any, leived, shall be borne by the legal heirs of such deceased person.
regards,
ratan
pavanreddy
(Student)
(104 Points)
Replied 11 March 2010
such income is taxable in the hand of his/her Spouse or sons on the head of "Icome from other sources" some benfits like gratuty,insuranceetc.are exmpt
Dintakurthi Tirumala
(CA FINAL)
(15989 Points)
Replied 12 March 2010
The income should be included in the income of person who receives and gets the benifit of that income even legal heirs or other like nominees (if any) according to the exemptions and deductions under income tax act
OM SAI SRI SAI JAI JAI SAI
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