Inheritance while filing return
This query is : Open
CA Dhimant Anadkat
(Querist)
07 May 2016
One of the my client received inheritance from his father,
can we show entries regarding inheritance received by Assessee while filing ITR 4 having business income..?
can we show entries regarding inheritance received by Assessee while filing ITR 4 having business income..?
CA VISHNU GAVKARE
(Expert)
09 May 2016
Dear Dhimant,
Entry for inheritance will be at nominal value. Even if you pass entry it is not reflected in ITR. Only your capital will increase by nominal value.
Entry for inheritance will be at nominal value. Even if you pass entry it is not reflected in ITR. Only your capital will increase by nominal value.
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