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Income of Deceased Assessee

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226 Points Posted on 11 July 2022
If a Assessee died on 16 Aug 2021 and he received interest of 5 year Term deposit of 67000 on 15 Feb 2022

Now whole 67000 will be taxable in hands of deceased ?
Or 5 months interest before death will be taxable in hands of deceased and remaining would be taxable in hands of Legal hier ?
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On 11 July 2022 at 09:43 Report
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81 Points Posted on 11 July 2022

In my opinion, income earned or accrued till the death of the assessee i.e. 16th August 2021 will be taxed in his hands and the remaining i.e. from 17th August on wards will be taxed in the hands of legal heir.

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On 11 July 2022 at 10:49
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85 Points Posted on 11 July 2022
Provided the assessed filed ITR regularly .
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On 11 July 2022 at 15:20
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Chartered Accountant
86505 Points Posted on 11 July 2022
Only 5 month interest added in income of deceased , rest to be taxable in hands of legal heir
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On 11 July 2022 at 20:11


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