20 February 2016
Sir, My one of client has expired in the month of January 2016. He is regularly filing i.t. return. During F.Y. 2015-16 he made long term capital gain on transfer of a residential house property. What is the remedy available in this case for non-taxability in the hands of deceased as well as legal heirs? Transfer of Residential house property is made before death of assessee.
20 February 2016
The legal representative can file the return for the deceased. The legal heirs can claim the exemptions under capital gain as would have been applicable to deceased.
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