Dear Friends,
Ur advice is required..
One of our client died last year without executing will..His property valuation goes into crores.
How income till the date of death & after death will be assessed. How to file IT return.?
Dear Friends,
Ur advice is required..
One of our client died last year without executing will..His property valuation goes into crores.
How income till the date of death & after death will be assessed. How to file IT return.?
The income arising from property would be assessable in the hands of the genuine legal heirs in equal proporition, ebcuase if tere's no will then as per Hindu Law the rights in the property devolves on teh immediate legal heirs of teh deceased. For e.g. if the husband dies then the immediate legal heris would be his spouse &^ his children.
CAclubindia
