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Filing income tax returns 2024 for the deceased: A step-by-step guide

Business Standard LogoBusiness Standard4h ago

Filing income tax returns 2024 for the deceased: A step-by-step guide - Business Standard

Quick Summary:

However, income earned after his death from the deceased's assets (such as rental income, interest, etc.) will be taxed in the hands of the legal heir(s) who inherit the assets.

Akshat Rastogi explains, "Calculate the income of the deceased from the start of the year till the date of death, and thereby the tax payable on it in the same manner as if the deceased is alive.

They must file the return on behalf of the deceased for the income earned up until the date of death.


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Published On: 2024-07-18 @ 14:38:43 (4 hours ago)

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News Source URL: business-standard.com

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Article Length: 1297 words

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Copyright Owner: © Business Standard

News ID: 21672671

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News Last Updated: 4 hours ago

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