Executor taxation: estate income taxed in executor's hands with separate assessments and exclusions for distributions. Estate income is taxable in the hands of the executor-individual or association depending on number of executors-with residence attributed to the deceased's status in the year of death. Executors are separately assessed from their personal income for each tax year or part-year between death and complete distribution. Income distributed to or applied for a specific legatee during a tax year is excluded from the estate's income and included in that legatee's income. Provisions relating to a representative assessee apply to executors insofar as relevant.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Executor taxation: estate income taxed in executor's hands with separate assessments and exclusions for distributions.
Estate income is taxable in the hands of the executor-individual or association depending on number of executors-with residence attributed to the deceased's status in the year of death. Executors are separately assessed from their personal income for each tax year or part-year between death and complete distribution. Income distributed to or applied for a specific legatee during a tax year is excluded from the estate's income and included in that legatee's income. Provisions relating to a representative assessee apply to executors insofar as relevant.
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