BhuvaneswarReddy L (26 Points)
03 February 2023
hello forum people
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 as i am going to file his returns for income till his death.
Thank You
BhuvaneswarReddy L
(26 Points)
Replied 06 February 2023
But madam in case of 54EC bonds high court allowed it for legal heir.
Kindly please see this madam.
After the death of the assessee, legal heir enters into the shoes of the assessee for all taxation purpose. Legal representative cannot be differentiated from the assessee for this purpose. If the assessee were liable to pay capital gains tax, the benefit of section 54 which forms part of the scheme of taxation of capital gains then legal heir cannot be denied because the latter condition of section 54 was fulfilled by his legal representative. Refer Madras High Court in C.V. Ramanathan v. CIT [125 ITR 191] and Andhra Pradesh High Court in Late Mir Gulam Ali Khan v. CIT [165 ITR 228],
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 07 February 2023
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