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Sanjeev Govila |282 Answers |Ask -Follow

Financial Planner - Answered on Nov 11, 2023

Asked by Anonymous - Nov 11, 2023Translate

Money

For how many years after a person 's death does income tax still imply?

Ans: Till there is any income in the person's name.

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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Financial Planner - Answered on Nov 13, 2020

Question by Omprakash - Nov 13, 2020Translate

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What are the tax implications after an account holder dies without filing IT returns?

Ans: If a person dies, the legal heir has to file tax returns on behalf of the deceased, to report the income earned by the deceased until the date of his death, and taxes deducted thereon. Legal heir needs to register oneself on the income tax website for filing the return on behalf of deceased. This is mandatory for e-filing of return on behalf of the deceased person.

The PAN of both the deceased person and legal heir should be registered in the e-filing portal. However, if the deceased person’s PAN is not registered, then the legal heir can register on behalf of the deceased.

Once the request for registration as legal heir is approved, then the person can file return as legal heir on behalf of deceased.

Any income earned after the date of death from the assets inherited from the deceased is taxable in the hands of the legal heir. This would mean that in the year that the person died, the income for the year would need to be segregated between the return of the deceased and the legal heir.

Legal heir should include this income inherited from the deceased in her/his own income while filing own income tax return

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Income Tax Senior citizen age limit

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Question by Prasad - Jul 25, 2023Translate

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Dear Sir, my mother passed away in September 2023. She was a pensioner and I used to file taxes for her earlier. Do I have to file taxes for her even during this year as she is no more with us. Also, if I have to file taxes, would it be ITR1? or some other form? Kindly help.

Ans: you may file as representative assessee for FY 22-23 and may file till the pension was received in 23-24.
you may inform department about the demise and apply to cancel her pan card.

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Question by D - Aug 31, 2023Translate

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some amount is received on sale of land which my father had bought25 years ago .he expired 10 years back. what are tax implication?

Ans: You (as a recipient of sale consideration) is required to pay tax on capital gain amount calculated in prescribed manner. Cost at which your father acquired land will be relevant for calculation purpose.

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Stock Market Expert - Answered on Nov 29, 2023

Question by sailen - Nov 29, 2023Translate

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can i buy unitech

Ans: NO

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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Question by Yam - Oct 15, 2023Translate

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Sir/madam, I asked this this question many times regarding the placement of my son but unfortunately I did not get my question answered. My son is pursuing B. Tech program from UPES, Dehradun with AI. He is is 5th semester at present. Sir what is the scope of placement for this course from UPES? What will be the average CTC for a candidate in various corporates? Is there any opportunities of placement in government sector? Thanks,

Ans: Dear Yam,
Your son is at 5th semester of BTech from UPES in AI. There is a huge requirement of AI Professionals in the Private sector.
I am sure that the university is going to provide good placements for your son. You can contact the placement cell of the university for better understanding.

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HR, Workspace Expert - Answered on Nov 29, 2023

Question by Sameer - Oct 01, 2023Translate

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Hi I m working In Life insurance company operations Executive 16 years. My qualifications is Graduation in Commerce. I want to learn additional qualification in new things, so that will help to look new opportunities in new field. I am working in MS Excel. Pls suggest.

Ans: Dear Sameer,
Since you have 16 years of experience already, you can upskill yourself by pursuing Executive MBA programs to improve your professional skills and employability.

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Question by Pardeep - Nov 23, 2023Translate

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Dear Sir, My daughter has just completed her BHMS degree and presently doing internship at Ludhiana. In addition to opening her own clinic and doing practice, what are the options in Govt and Private Sectors for earning her livelihood. Is there any scope for jobs in Govt Hospitals in Punjab and other North States ? Thanks, Pardeep Malhotra

Ans: Dear Pradeep,
BHMS is a good degree.
Nowadays, there is good requirement of Homeopath professionals in various IT companies as well as private hospitals which has homeopath sections.
The best thing would be if she starts her own practice, although initially it would be slow but in the long term it will be beneficial and rewarding.

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I have completed B. E. Civil in 2019.But yet I have no job. What can I do?

Ans: Dear Anjali,
There is a huge requirement of Civil Engineering professionals in the market due to the focus on Infrastructure and development by the government as well as huge development of housing projects.
You should keep trying through various job portals and job consultants to get a job soon.

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Samraat Jadhav |1063 Answers |Ask -Follow

Stock Market Expert - Answered on Nov 29, 2023

Question by Mamata Das - Nov 28, 2023Translate

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Hello Samraat ji, I request you to guide me on the following stocks. Awl - 161 @ 490 IEX - 250 @ 190 Motherson - 119 @ 112 Panaceabio - 43 @ 294 Amrutanjan - 50 @ 729 Bororenew - 87 @ 500 Sail - 170 @ 106 Vedl - 160 @ 277 Happiestminds - 50 @ 987 Wipro - 200 @ 471 Campus - 100 @ 315 Bodalchem - 100 @ 85 Sbi card - 29 @ 820 I want to get rid of bad stocks and declutter my portfolio. Please help. Thank you.

Ans: Following are the good stocks others plz exit
Amrutanjan, Sail, Happiestminds, Wipro, Campus and SBICard

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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I HAVE MCX SHARE 100@2800/- IS GOOD OFR LONG TERM

Ans: Company with No Debt
Increasing Revenue every quarter for the past 2 quarters
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Good for Longterm

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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Stock Market Expert - Answered on Nov 29, 2023

Question by Mamata Das - Nov 28, 2023Translate

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Hello Samraat ji, I have 161 AWL shares @ 490. Do you recommend averaging it out now?

Ans: EXIT

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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Tax Expert - Answered on Nov 28, 2023

Question by Podugu - Nov 18, 2023Translate

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My children’s fee/ year is around 7 to 8 lakh s Is it claimable , while filling tax returns

Ans: Tuition fee is deductible u/s 80C within overall limit of Rs.1,50,000

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Question by MOHAN - Nov 18, 2023Translate

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I am retired and have some investments in mutual fund. If I redeem funds for Rs 3 lacs, how much tax i have to pay and what is the basis of calculation. Thanks

Ans: Tax on redemption of mutual fund depends on holding period and type of scheme. Equity and debt scheme have different tax rate.

Short term gain from equity based schemes will be taxed @15%
Long term gain from equity based schemes will be taxed @10% above 1 lakh
Short term gain from debt based schemes will be taxed slab rate
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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