You must pay attention to specific values and information when reporting to the Lion
The expectation is to receive approximately 43 million tax returns for 2024. The deadline for delivery is May 31.
A question that arises every year concerns inventories. Aline Avelar, partner at Lara Martins Advogados and head of the family law and inheritance department, says that heirs must, in fact, declare the inheritance in income tax.
“During the period in which the succession process takes place in court, there are three types of declarations possible: the initial, the intermediate and the final. The rules and deadlines for filling out the declarations are the same. It is necessary to inform the number of the declaration in the declaration of the judicial process, of the court and judicial section in which it was dealt with, as well as the date of the court’s decision and its finality”, he explains.
For Patricia Valle Razuk, partner and co-founder of PHR Advogados and specialist in family law and inheritance at the Escola Paulista de Direito, it is necessary to pay attention to some details.
“Actually, the estate has its own declaration. Then, once the inventory is completed, everyone begins to declare the assets received,” he says.
Aline also reminds that taxpayers must be aware of the value of inherited assets. “If the person has received, for example, R$30 thousand in inheritance, this, in itself, does not oblige him to declare it. The obligation is triggered when the value of the person’s share of the inheritance exceeds non-taxable R$40 thousand or when the value of the inheritance, added to the taxpayer’s annual income, exceeds the non-taxable threshold of R$40,000,” he explains.
“It is important that the information provided by all heirs is correct, especially in relation to each person’s shares, values and data on the estate. If there are inconsistencies or errors in the compilation, the declarations could go unnoticed. The declared value must be proportional to the value of the property resulting from the last declaration of the deceased taxpayer. Only in the case of renovation or expansion works carried out by the deceased, with justification of the expenses with receipts and notes, is the modification of the total value of the property permitted. must update the value of the property”, concludes Avelar.
Watch the video with Patricia Valle Razuk’s tips.
HOMEWORK inspires transformation in the world of work, in business, in society. Compasso, a content and connection agency, is born.
Source: Terra
Ashley is a professional author and journalist, working at 247 News Update. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. She brings a unique perspective and in-depth analysis to her work.
