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Income

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(Querist)
10 September 2014 PROPERTY SOLD BY MOTHER AND INCOME RECEIVED BY SON.
WHAT TAX TREATMENT
1-IN HANDS OF MOTHER
2-IN HAND OF SON.
ENTIRE AMT RECEIVED BY SON.
WHICH INCOME HEAD WILL BE TAXABLE IN CASE OF SON.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 September 2014 means mom sold to outsider and amt rec by son? is this wat u meant
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Rupesh Jain

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Rupesh Jain (Expert)
10 September 2014 if mother sold the assets to outsider then taxable in hand on mother. mother gift the amount to son then no amount will taxable.
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