TAX
This query is : Resolved
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
30 April 2010
The term "Inrem Tax" appears to be a latin legal jargon. May I suggest you to post the query at lawyersclubindia.
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.
30 April 2010
Thanks Manmohan for the input.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Management System (IMS)
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Rental income gst and it purpose
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Putting a heading on received mail
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
