Personal Finance News

Dead People also have to File a Income Tax Return – Really!!

Filling the income tax return is very much important for everybody but the most shocking thing is the dead person also has to fill the income tax return.

Isn’t it shocking, indeed it is.

As per the rules the dead person returns will be filled of the year in which he has died.

Most people don’t even know about any such kind of rule.

And especially this year when so many people in lakhs or thousands have died because of covid then it is important to understand how it should be done.

Another major shock is for the people who are died there is not one but two income tax returns which needs to be filled.

The first return is from the income which has been earned from the start of the financial year till the date of death.

The second should be for income earned by the deceased from the date of the death.

The person has to file the second return whether the person who is dead has made a will, the legal heir has to file the first return and the executor has to file the second return.

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