Letter of Indemnity required by Income Tax from Representative Assessee

Page no : 4

J. V. Adavi (Proprietor) (87 Points)
Replied 24 November 2021

As pointed out by several correspondents, the stamp duty for Letter of Indemnity varies from State to State. It is best to refer to the Stamp Act of the State in which the Letter of Indemnity is executed. A lawyer's advice would be best.  


SATISH CHANDER (C.A.) (238 Points)
Replied 25 November 2021

PLEASE ADVISE IN CASE DEATH A OF MR.A , HIS WIFE , SON AND DAUGHTER ARE SURVIVING MEMBER.

OF COURSE , MRS.A IS THE LEGAL HEIR. WHETHER 3 INDEMNITY BONDS AT 100 RUPEES STAMP PAPER IS TO BE MADE  AND NOTARISED. PLEASE GUIDE. WHETHER INDEMNITY BOND BY MRS.A WILL BE ENOUGH.

THANKS.


Vinod Kumar (ABC) (118 Points)
Replied 25 November 2021

Dear Satish Chander ji ,

There will be just one INDEMNITY bond from a person whoever registering as "Representative Assessee" stating all surviving members of the family . 

All surviving members will sign the "INDEMNITY" bond.

 

Originally posted by : SATISH CHANDER
PLEASE ADVISE IN CASE DEATH A OF MR.A , HIS WIFE , SON AND DAUGHTER ARE SURVIVING MEMBER.

OF COURSE , MRS.A IS THE LEGAL HEIR. WHETHER 3 INDEMNITY BONDS AT 100 RUPEES STAMP PAPER IS TO BE MADE  AND NOTARISED. PLEASE GUIDE. WHETHER INDEMNITY BOND BY MRS.A WILL BE ENOUGH.

THANKS.

 


Guest (others) (4 Points)
Replied 10 December 2021

Thanks this thread was very useful .

In Three days , Got approved representative assesse for 2 people from the same account. 

1) For one Gave PPO as proof

2) Another gave Surviving Member certificate issued by state government as proof.

For Legal Heir affidavit against individual names gave affidavit by removing Indeminity part from LOI, and just added a verification section (its a common practice my notary told).

 


Guest (others) (4 Points)
Replied 10 December 2021

Originally posted by : Guest
Thanks this thread was very useful .

In Three days , Got approved representative assesse for 2 people from the same account. 

1) For one Gave PPO as proof

2) Another gave Surviving Member certificate issued by state government as proof.

For Legal Heir affidavit against individual names gave affidavit by removing Indeminity part from LOI, and just added a verification section (its a common practice my notary told).

 

For LOI put a stamp paper of Rs 200/- , Rs 50/- for affidavit.



satish jha (Tax advisor) (22 Points)
Replied 17 August 2022

I was trying for my client all documents uploaded as per list , but  they rejected two time. posted Grievance but repeating same doc what they mention in rejection.For filing Return so much of complication created very sad part 


Mohsin Ali Shah (2 Points)
Replied 17 August 2022

A Letter of Indemnity is a legal document that protects the representative assessee from any legal liability arising from their actions on behalf of the income tax payer. This document is typically used when the representative assessee is not a lawyer or accountant and is not familiar with tax law. https://mamc.ae/


nem chandra (ca student) (23 Points)
Replied 19 July 2023

I was struggling to find the format for Indemnity bond .  It's there on the same portal .  - login to incometax efiling portal - click on Register as Representative Assessee - on the same page , click on "Things you should know before proceeding" - A popup window will appear . look for "Copy of Letter of Indemnity" and you will get what you are looking for.   I also attached here for reference.
 


Attached File : 948094 20230719105737 income tax indemnity.doc downloaded: 109 times

Mahesh Kulkarni (2 Points)
Replied 24 July 2024

Many thank Vinod ji for uploading the format.



Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Join CCI Pro


Subscribe to the latest topics :

Search Forum: