IF MR X DIED AND HIS PROPERTY AUTOMATICALLY TRANSFERED TO HIS WIFE IF HIS WIFE TRY TO TRANSFER SOME PROPRTY/INCOME TO HER DAUGHTER WHAT IS THE PROCEDURE TO SUCH TRANSFER AND THEIR TAX IMPLIFICATION.
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 07 June 2016
Rahul Verma
(CA-Final)
(484 Points)
Replied 07 June 2016
Under this provision, it will attract clubbing provision. Income should be taxed in the hand of her mother as arising from property.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
