Role of Legal Heirs of deceased assessee under Income Tax Act
HTML-код
- Опубликовано: 6 окт 2024
- This video Explains Income Tax Implications and provisions in case of death of an assessee. Rights, Role and Responsibilities of Legal Heirs/representatives.
If there are more than 1 legal heir. Then registered Will for all legal heir can be uploaded and along with affidavit in which all legal heir make representive one legal heir.
yes
hello sir
The legal heir shall be eligible for the income tax slab, deductions and rebate that the deceased would have been granted under Income tax “.
Can you please tell me as my father expired on August 2022 he has pension income . So can I purchase 80 c ELSS now as legal heir on his behalf.
Sorry for your loss.
Yes seperate slabs will be available but you can not buy ELSS now on his pan and account. If he had invested something prior to his demise then benefit is available as per IT Act.
@@CAHemantGuptaLLB Thank you sir
Sir, in the new portal there is no option to choose PAN of the deceased when logging in. Please let me know how to file ITR of deceased in new portal?
I m also facing same issue.
I have registered as legal heir for my deceased father and it is also approved but now how to proceed further for ITR filing?
@@rishisaxena915 Rishi after you logged in there's an option on the left side that shows logged in as Self. Go to that drop-down. You will see login as legal heir option.
@@Maddy44979 will check ..new site is nt working properly
@@rishisaxena915 I have another question. Where does the tax refund be credited ? I mean to which account ? I have closed my father's account and ideally refund amount should be credited to legal heirs bank account. But I don't see that option 😔
@@Maddy44979 definitely it should credit in legal heir account .
U must have ur bank accounts added to ur profile.
Ur account in which u r taking refund for urself will be the account for credit for ur deceased family member too.
Sir in case of multiple representatives .. the required affidavit of all in favour of one need to be notarized??
Yes
Arrears of pension received after death of the employee. Whether relief u/s available and to be included in the income of deceased or the legal heir?
Relief shall be available.income to be taxable as deceased income.
Detailed explained👍👍👍
Thank you 🙂
In cases where there are multiple members alive who are related to deceased person, and 1 of them agrees to carry out these formalities of filing ITRs, whether there's need of an NOC or something like that. For. Instance, Mother of my client has expired. Now, my client and his father are alive. My client wants to register as LR and complete the formalities of his deceased mother. Whether there's need to take NOC from his father that the son(my client) shall be the LR for the purpose of ITR? Please clarify.
Not required. Any of surviving member can be a LR.
@@CAHemantGuptaLLB thankyou sir.
Hi,
Thanks for this informative video.
My father was a govt employee. He passed away in October 2020. My mother being his nominee received the Gratuity amount. Please let me know where and how to show this Gratuity amount while filling my mother's ITR-4.
Please help me out.
Thanks in advance.
As legal heir she need to file her husband's ITR
Sir plz reply ,
Father died in december 2023 .....We could not close all his Savings and FD account in FY 23-24 .
Also TDS was deducted against his pan post his death in FY 23-24 ....and also in FY 24-25.
since we could not close all his Accounts before end of Financial year i.e 31st march 2024 ........due to which his FD's earned interest And TDS was deducted on his name.
so.my query is can Legal heir / Representative Assessee File ITR for deceased in subsequent year ( FY 24 -25 ) in which interest income was earned ....
I doubt it . It does not seem possible
@MovieBuff-k6 did you get the refund amount or was your issue resolved?
Hi sir, how many times IT department give legal heir permission for itr filling, already last year 1st time gave permission.
For two years you can file. One is for the year of death and second is one year prior to the year of death
2022 to 2023 i got legal heir approval. Submitted successfully. Can i file 2023 to 2024 fy.
What is the time limit for keeping books of accounts if proprietor of business dies
To be on safer side I would suggest 10 years atleast
Can a person be a karta in two HUF (One in his own HUF & Other in his Deceased Father's HUF). If Yes, Then whether any certificate or affidavit is required in Deceased Father's Huf For ITR purpose?
Yes it's possible . You need to be eldest memeber of deceased father's HUF and have proof for the same. Death certificate and legal heir certificate will be sufficient
Sir whose pan to be used while paying tax of deceased assessee. Means pan of LR or deceased
Deceased's
Sir my father expired 10th april 23 i filed itr for last fy year 22-23 as legal heir but in fy 23-24 some fdr interest recd on his name and bank deduct some tds can i file the itr fy 23-24
Yes you should . But you should also inform bank about legal heirs and TDS should be under ther name.
If already informed and bank had mistakenly deducted TDS in your father's PAN then ask them to correct.
I am state salaried person and also get my husband salry after his death .will I have to pay tax on his monthly salry.
Yes family pension is taxable
after five years of my father expired we got a notice of 148A before they sent it on fathers name and later on mothers name plz tell what to do?
Please engage some tax professional to deal with it . If they issued the notice within time in your mother's name or legal heir's name then you must comply with assessment proceedings. But if not then you can cite limitation and come out of it.
@@CAHemantGuptaLLB sir can you tell me what is the time limit you are mentioning?
My query regarding change of pan no in deceased a/c for claim tds
Whats the query
Sir my aunty has filed his deceased husband return as legal representative ....now we are not getting refund ....and bank validation is getting failed....and can we take refund in the account holder as legal representative
while registering as legal heir you would have given a bank account. Ideally refund should come to that account. but there is always technical issues for this. if you have any active joint account of deceased then use that otherwise call income tax number to seek solution. but sooner or later you will get the refund.
ser refund legal hair ke acount ma refund hoga ya desead ke deased ka acount close ha sb ke sb acount
Mention your account while filing the ITR in case of any trouble speak with income tax customer care centre
Hi @mahadev1860 was your issue resolved? I am also facing the same issue , I cant add my legal heir account under decease personal information , how to get refund please help
Sir, father ke death hua tha July 2021 me. Aur unka arrear ke tax hum mother ki account se club kar ke die the. Mother legal heir representative ke hisab se nehi die the kyunki legal heir certificate tab issue nehi hua tha. To kuchh problem hoga kya? aage humko kya karna padega?
Pls consult your local CA to get it rectified
Sir how can I get information about my deasesed sister transaction as a legal heir
I couldn't understand your question
Hello sir
If assessee is died after filling appeal to income tax commissioner.
What will happen
Kindly enlighten us.
Legal Heirs will have to step in.
Thnk u sir
Sir, if the legal representative does have the password of the deceased, then how to proceed with his return filing
you don't need password of deceased . all working will be done in legal heir's account.
@@CAHemantGuptaLLB sorry sir, I meant oi legal heir doesn't have the pw of deceased account, then how to add legal heir in deceased account
@@niravsukhadia3256 sir you have to add deceased person's PAN in legal heir account not otherwise.therefor deceased person's password does not matter
@@CAHemantGuptaLLB ok thanks
@@CAHemantGuptaLLB then how to file ITR upto date of death??
Sir how to do with new ITR portal. please help.
let new portal stabiles.
sir i am govt employe. my father expire in aug 2022.
he had scss acount and i was nominee. i got all that amount and i transfr all that amount to my mother acount online.
kya meri mother ko os amount pe tax dena hoga?
If her total annual income is more than 500000 then yes she will have to pay tax on that income.
@@CAHemantGuptaLLB but sir os amount pe father ne already tax pay kiya hua tha.
Income earned after his death shall be taxable in her hand. On Principal amount there will not be any tax, only interest income shall be taxable.
ok thanx a lot sir
sir mere papa ki covid me death ho gayi. papa ki policy ke against muje death claim 7 lakh mila to muje tax bharna padega ?
When was the policy taken? What was the premium and sum assured?
2011 policy taken and 60000 insurad sum
13980 premium
all premium i received
in claim.
jeevan saral policy
Not taxable
Sir aap apna no de mujhe kuch puchna hai