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HEIRS TAX PENALTIES
Selling property in England after the owner's death? Legal heirs may need Probate of Will or Letters of Administration firstLegal heirs in England and Wales require a Grant of Probate or Letters of Administration to sell property and manage a deceased person's es...- SC order turns up tax heat on old benami transactionsThe Supreme Court has ruled that tax authorities can retroactively apply the benami law to confiscate assets from transactions predating 20...
- How Roth IRA helps you leave tax-free money to your familyRoth IRA is a smart way to pass money to family with less tax. It allows tax-free growth and easy transfer to heirs. There are simple rules...
- Should you pay taxes now or save big later? Roth conversion explainedMany retirees are thinking about Roth conversion to save tax in the future. It can give tax-free income later but may increase tax today. T...
- Inherited property, money or investments? Six tax questions every heir needs answers forNavigating taxes after inheriting assets can be complex. Legal heirs can file the deceased's tax returns and receive refunds, but their lia...
- Many Americans make this costly 401(k) and IRA mistake — don’t leave a mess for your familyMany Americans risk sending their 401(k) and IRA savings to the wrong heirs. Outdated beneficiary forms override wills and can create tax p...
- 401(k) at retirement: Move it, leave it, or lose out? The decision that can cost you thousands401(k) retirement mistake: Retirees must be cautious with 401(k) decisions. Taking a distribution instead of rolling over can lead to unexp...
- SEBI launches ‘Mitra’ platform to help investors trace lost or inactive MF investmentsSEBI has introduced Mitra, a new digital platform developed by mutual fund RTAs, enabling investors and heirs to trace inactive and unclaim...
- I am an NRI. How can I take money out of India after selling inherited property and shares with minimum taxes?I am an NRI with inherited property and shares in India. What are the best ways to repatriate funds without triggering high taxes or violat...
- Top 5 mistakes NRIs must avoid while investing in IndiaNRIs investing in India should avoid common mistakes like delaying KYC updates, overlooking foreign TIN requirements, focusing solely on ta...
- Latest post office savings account interest rateThe government hiked interest rates on only a few small savings programmes by up to 30 basis points for the October-December 2022 quarter. ...
- 5 banks offering highest interest rates on tax-saving FDsYou can choose from cumulative interest or non-cumulative options of tax-saving FDs which are normally offered by most banks.
- ITR filing of deceased person: Documents required, steps to be taken by legal heirsAs per the income tax law, the responsibility for filing the income tax return till the date of death shall be that of the legal heir, in c...
- What to do with Aadhaar, PAN, Voter ID and other official documents after death of holderHere is a look at how to deal with different government official documents such as PAN, Aadhaar, passport etc. of someone who has passed aw...
- Money tasks after death in family: How to close accounts, transfer investments, make claims and moreSort the paperwork and complete financial tasks without leaving any loose ends after the death of a family member. ET Wealth tells you abou...
- After a year-long legal battle, court hands tax win to Michael Jackson's heirsThe estate's executors said it was a huge and unambiguous victory for Jackson's children.
- How to file tax return as a representative of someoneThere are specific people, such as a guardian, trustee, or some other competent person, authorised by law to file tax returns on behalf of ...
- Simple 2-page form to be filled for declarations under new income declaration schemeFor declaration under the PMGKY scheme, the only thing required is the details of bank and/or post office accounts where the cash has been ...
- Budget 2016: Eight takeaways for individual taxpayersThose earning below Rs 5lakhs to save an additional Rs 3,000 in taxes. Tax rebate under Section 87A has been raised from Rs 2,000 to Rs 5,0...
- Filing I-T return? Don’t ignore income from other sourcesBefore filling I-T returns, you should remember that there are various heads under which you need to file your income tax return.
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