Can legal heirs be liable for a deceased parent's income tax dues? Experts explain
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Key takeaway
Income Tax Act, 2025 clarifies that legal heirs are liable for a deceased's tax dues only up to the estate's value.
- Step 1 · The triggerThe Income Tax Act, 2025 clarifies that legal heirs are liable for a deceased's tax dues only up to the estate's value.
- Step 2 · Knock-onEstate settlement requires tax clearance before asset distribution, increasing demand for professional tax and probate advisory services.
- Step 3 · Reaches youSMEs and family businesses facing succession must engage advisors and prepare documentation early to avoid delays or legal exposure.
The trigger is reported by the source below. The steps that follow are Branch²’s traced reasoning — how the shock could reach a business like yours, not a prediction.
Source: livemint.com
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