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Sanjeev

Sanjeev Govila  |458 Answers  |Ask -

Financial Planner - Answered on Dec 06, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more
Asked by Anonymous - Nov 26, 2023Hindi
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If an Assessee passes away, do his legal representative needs to file tax returns for the said FY even if the deceased assesee's income falls below minimum taxable income.

Ans: Yes, the legal representative of a deceased assessee is still required to file a tax return for the assessment year in which the assessee passed away, but if the deceased assessee's income falls below the basic exemption limit, it’s not mandatory. The return filing is required because the legal representative is responsible for ensuring that all of the deceased assessee's tax liabilities are settled.

Here are some of the reasons why a tax return needs to be filed even if the deceased assessee's income falls below the minimum taxable income limit:

• To claim any tax deductions or exemptions that the deceased assessee may be entitled to.
• To pay any outstanding taxes that the deceased assessee may owe.
• To receive any tax refunds that the deceased assessee may be entitled to.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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