Property transfer
This query is : Resolved
09 December 2014
is income tax attracted if any property transfed to NRI son by father through will
09 December 2014
No income tax liability on NRI son on property transferred by father through will however there will be capital gains liability if and when the son further sells the property acquired through will this is because of the property being situated in India. Any income even if received abroad out of property or source of income situated in India will be liable to tax for a non resident.
09 December 2014
no, income tax not applicable on will. but income if any will taxable in india in hand of NRI.
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