TAX
This query is : Resolved
VINAYAK KUMAR
(Querist)
30 April 2010
SIR/MADAM
Please suggest me that what is Inrem Tax?
Thanks
Please suggest me that what is Inrem Tax?
Thanks
30 April 2010
YOUR QUESTION IS NOT CLEAR
Shyam Lal Naik
(Expert)
30 April 2010
The term "Inrem Tax" appears to be a latin legal jargon. May I suggest you to post the query at lawyersclubindia.
Manmohan ACA, CS
(Expert)
30 April 2010
In rem (Latin word ) means 'against the property, not against the person'
Tax in rem generally denotes consideration only of property characteristics, and not personal attributes of the owner, in the assessment process,
In Simple words the assessment authorities has right to collect tax from a property(by selling, or disposing or letting it out) not from on owner.
E.g. if owner of a property is not known (or in not found ) and huge tax is due relating to such property tax in rem can be applied.
Tax in rem generally denotes consideration only of property characteristics, and not personal attributes of the owner, in the assessment process,
In Simple words the assessment authorities has right to collect tax from a property(by selling, or disposing or letting it out) not from on owner.
E.g. if owner of a property is not known (or in not found ) and huge tax is due relating to such property tax in rem can be applied.
Shyam Lal Naik
(Expert)
30 April 2010
Thanks Manmohan for the input.
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