Cash received in as per partition deed taxable or not
This query is : Resolved
29 April 2018
Dear Sir,
One of my client received cash more than 12 lakhs rupees, as per partition deed from her father whole such amount taxable in the hands of father or daughter.
clarify me
regards
One of my client received cash more than 12 lakhs rupees, as per partition deed from her father whole such amount taxable in the hands of father or daughter.
clarify me
regards
29 April 2018
Please examine whether she has relinquished her right in immovable property and if so check capital gains applicability.
30 April 2018
thank you sir,
the house property sold and may be her father has paid capital gain tax, because he was govt employee.(my client also govt lecturer). the whole such amount equally distributed to his two sons and two daughters. and all of them accepted equal share of amount, her father wants to give such a large amount through a/c payee cheque or transfer to her salary account. my client so much of fear to because of income tax applicable on such a large amount even money received from her father.
please suggest me
regards,
the house property sold and may be her father has paid capital gain tax, because he was govt employee.(my client also govt lecturer). the whole such amount equally distributed to his two sons and two daughters. and all of them accepted equal share of amount, her father wants to give such a large amount through a/c payee cheque or transfer to her salary account. my client so much of fear to because of income tax applicable on such a large amount even money received from her father.
please suggest me
regards,
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