Query

Tax queries 166 views 2 replies

Hari Prasad Miryala

1 Points Joined July 2017

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,

Replies (2)

Suresh Pai S

Tax Consultant

1029 Points Joined March 2012

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.

Udgam Koomar

Tax Technologist

1949 Points Joined August 2011

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?