Property transfer

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aayush

aayush (Querist)
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09 December 2014 is income tax attracted if any property transfed to NRI son by father through will

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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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.

Rupesh Jain

Rupesh Jain (Expert)
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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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