Suresh died on 30th March, 2021 & his total income till this date was ₹5,55,000. Thereafter the business of Suresh was inherited by his son Kishan and his total income from such business was ₹4,25,000. The son does n

CS Executive · Tax Laws · PYQS · December 2022
Suresh died on 30th March, 2021 & his total income till this date was ₹5,55,000. Thereafter the business of Suresh was inherited by his son Kishan and his total income from such business was ₹4,25,000. The son does not have any other income. In this case the son:
(A) has to file only one income tax return on behalf of his father for ₹5,55,000
(B) has to file only one income tax return on behalf of his father for ₹9,80,000
(C) has to file separate income tax returns, one on behalf of his father for ₹5,55,000 & other in his own capacity for ₹4,25,000
(D) has to file a consolidated income tax return for the amount of ₹9,80,000

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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