INCOME TAX LIABILITY ON SHARE OF SALES PROCEEDS OF ancestral AGRICULTURE LAND
This query is : Resolved
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GOKULDAS KAMATH
(Querist)
14 August 2023
My wife got her share of Rs.10 lakhs out of sales proceeds of agriculture lands in the name of her grandfather
Whether this amount is taxable income
If yes, what is the remedy available so that she need not pay Income tax on this amount
Whether this amount is taxable income
If yes, what is the remedy available so that she need not pay Income tax on this amount
14 August 2023
Whether she had signed the sell document directly or through any GPA?
Or she had given her consent for any share in the property?
How the amount was received by her?
Or she had given her consent for any share in the property?
How the amount was received by her?
10 September 2024
Good Luck.
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