13 June 2013
assessee has income of pension below 5.00 lacs and has some intt. income above rs. 10000/- . now assess has expired in may -2013 income tax return filing is coumplosury or not for F Y 2012-13 & 2013-14 ?
if yes how fill return for F Y 2012-13 & 20013-14 ?
13 June 2013
Filing of Income tax return cannot be ignored as it is an ongoing process. Filing of Income Tax Return and liability to pay taxes on income of deceased is same as alive person. The only difference in two is that in case of alive assessee, he himself or through person authorised by him files Income Tax Return whereas in case of deceased assessee liability to file return and pay taxes is either on legal representative or executor. Deceased person is entitled to all the deductions and exemptions for the entire year, but however tax is levied on the income being earned till his/her death. The return of the deceased person would include income till the date of death of the assessee, hereafter the income would be taxable in the hands of the Legal Heir and included in his return of income.