Residential status

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2011 In which of the following cases a person who is not the owner, but shall be taxable under the head income from house property:
a) Property is transferred to divorcee or senior citizen
b) In case of the holder of partible estate
c) A person who got the possession of property against the part performance of the contract as per sect 53A of land ceiling act
d)House property provided by the company ,co operative society or any other AOP to its member.

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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19 October 2011 IN THE FOLLOWING CASES-:
b) In case of the holder of partible estate
c) A person who got the possession of property against the part performance of the contract as per sect 53A of land ceiling act
d)House property provided by the company ,co operative society or any other AOP to its member.

Sijo Philip

Sijo Philip (Expert)
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19 October 2011 a) Property is transferred to divorcee or senior citizen :
a. Divorcee : As per section 27 of IT act, 1961, if the property is transferred to spouse in connection with an agreement to live apart, the transferor shall be the deemed owner, though he is not the legal owner. In the above case, if the transfer is in connection with their decision to divorce, the transferor will continue to pay tax on the property transferred.
b. Senior citizen: No specific provisions in the IT Act, regarding transfer to Senior Citizen. Hence, the transferor of property to senior citizen shall not be required to pay tax on the property unless required by other provisions of the Act.
b) In case of the holder of partible estate:
a. As per section 27 of IT act, 1961, the holder of impartible estate, has to pay tax on all the properties comprised in the estate. Here since your doubt is with respect to partible estate the holder has to pay tax only the extend of properties which he is entitled to receive.
c) Person who got the possession of property against the part performance of the contract as per sect 53A of land ceiling act :
a. As per section 27 of IT act, 1961, in the above case the person in possession of the property has to pay tax.
d) House property provided by the company ,co operative society or any other AOP to its member.
a. As per section 27 of IT act, 1961, in the above case the person in possession of the property has to pay tax.

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