Tax treatment of property inherited
This query is : Resolved
09 January 2017
what is the Income Tax treatment of property inherited from parents to its son and daughter ?
what is the Income Tax treatment of property transferred to any person by gift deed?
what is the Income Tax treatment of property transferred to any person by gift deed?
09 January 2017
No tax payable on property transfer by way of inheritance to son and daughter. Property transfer by way of gift deed to other than relatives is taxable if it exceeds Rs. 50,000.
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