Query

Hi,

 

i have a question and hope to get a reply ASAP. My father has passed away in September 2016 and as a legal heir i had claimed his bank account and transferred the amount into my bank a/c. Now, my question: Whether i have to declare this amount from my father's account? if so, how and where i need to declare?

would it be additional income or is there any other head?

i am not so good with these IT rules... so expecting someone to lend me a hand in putting it right.

 

thanks,

M.

Replies (2)
The question is whether your father had any taxable income credited in the bank A/c. In that case you need to file return as a representative assessee for that income. Clubbing provisions are not applicable.

Mere transfer of the balance in your father's a/c will not be an income. It is just like a gift. You need not pay tax on that.

you have to file the return in his name and treat all this as his income till thise accounts are closed. If the total income is more than 2.5L return has to be filed, use ITR1 form. Whar all types of income head he had?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details