Easy Office

Tax on gifted property

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 September 2016 My Aunt(Chachi) has given me a gift (Shop) on 1999. Now she is no more. I want to know the tax implications
i) Incase i sell the property
(Whether any tax liability will occur on their sons/ legal heirs by selling the gifted property?)

ii) in case i let out the property on rent
(Rented income will account in my gross income or in the legal heirs income?)
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
01 September 2016 Since your aunt(Chachi) is no more, the income whether by way of capital gain or rent will be taxed in your hands.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links