Representative assessee

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@CS Siddharth Bumb.

B.Com CA Final CS

5270 Points Joined September 2009

An assessee died after completion of financial year (in May 2012), he has lot of capital gain. His representative has to file IT return, can his representative invest money in capital gain account scheme u/s 54B and 54F to claim exemption in his (assessee) name? If not then what is remedy available with representative to save tax?

Replies (4)

CS RAJESH C.CHOUDHARY

ASSISTANT MANAGER

14607 Points Joined July 2011

The legal heir of the deceased assessee shall file the return on his behalf. Just like a POA holder can file a return on behalf of the person giving such power, legal heir can file the return for a deceased person. The name in the return should be mentioned as "LATE Mr / Mrs. _________ through legal heir Mr / Mrs. _________"

and as far as exemption u/s54 legal heir can take ...

Let see other friends reply...

@CS Siddharth Bumb.

B.Com CA Final CS

5270 Points Joined September 2009

Originally posted by : RAJESH CHOUDHARY
	The legal heir of the deceased assessee shall file the return on his behalf. Just like a POA holder can file a return on behalf of the person giving such power, legal heir can file the return for a deceased person. The name in the return should be mentioned as "LATE Mr / Mrs. _________ through legal heir Mr / Mrs. _________" and as far as exemption u/s54 legal heir can take ... Let see other friends reply...