MF LTCG TAX LIABILITY OF DECEASED PERSON
This query is : Resolved
19 February 2024
Say, a person successfully lodges mutual funds’ (equity) redemption request on 15-January-2024 at 8:00 am. This person dies on the same day at 11:00 am. The redemption amount is credited to the bank account of this person (his wife is the joint holder in this bank account) on 16-January-2024. Capital gain statement is showing that date of redemption is 15-January-2024. In this scenario, who is liable to pay tax on capital gains, the deceased person (by Legal Heir) or the surviving wife?
20 February 2024
Legal heir is liable as redemption date is 15th the date of death.
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20 February 2024
Thank your very much Sir for the explanation.
20 February 2024
You are welcome..
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