Tax liability of deceased father
This query is : Resolved
Quick Summary
27 June 2023
A Father transfer his land to son as gift and dies a few months later. While scrutiny by IT department the father is liable to pay tax on certain income and send notice to deceased father. Whether the land which was received by son as gift will be considered as inherited and will be liable to be disposed to pay tax ?
Dhirajlal Rambhia
(Expert)
27 June 2023
No, if the gift deed was registered by father in favor of son.
But legal heirs are directly responsible to clear the dues.
But legal heirs are directly responsible to clear the dues.
29 June 2023
What is the liability of legal heirs if they not received anything from the estate of deceased father ?
Dhirajlal Rambhia
(Expert)
29 June 2023
Father had only land as an asset, when he left?
If no, whosoever inherited his belongings are liable for the liabilities.
If no, whosoever inherited his belongings are liable for the liabilities.
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
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- TDS- 2026-27 Q1 Correction
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Royalty payments to the Mining Department for procurement of murum - GST input
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
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
