Opinion Of Eminent Legal Luminaries On Controversial Issues

Executors – Income -Return of Deceased

QUERY: Kindly enlighten us to when the return of the deceased can be filed by the executor if estate was not distributed fully?
ANSWER: Section 159 of the Act is meant to enable the revenue to make an assessment on legal representative in respect of income which accrued to or was received by the deceased till his death.
\While Section 168 enjoins an assessment on executors in respect of the income which accrues to the deceased after his death, the estate being vested in executor.
As per Section 168(3), the executor will continue to be assessed until the estate is distributed among the beneficiaries. Thus, till the estate is completely distributed, the executors will have to file return of income of the estate.

Posted in Income-tax

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