banner_ad

Taxability on deceased person and his heirs?

222 views 1 replies
A person died leaving behind property worth 2 Crores in form of flats and shares. Which will be distributed amongst his 5 heirs as per LoA in equal proportion.

1) What will be tax implication on deceased person?

2) What will be tax implications for 5 legal heirs?

Please guide.
Replies (1)

The income up to the death of the deceased person will be taxable in the hands of the deceased person. Any legal heir will have to file the ITR of the deceased person.

Income after the death will be included in the income of legal heirs on the basis of their share in the estate.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details