Taxability on death of karta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2014
On closing the Bank Account of HUF on account of death of Karta and transferring the entire proceeds to bank account of his wife what is the taxability involved?
26 February 2014
there is no tax applicable as there is no taxable event occured in this case.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2014
Even if it is going to an individual member i.e. his wife and not the rest of the members of HUF i.e. his sons
26 February 2014
actually there is no income as per def of income u/s 2(24) under income tax act.so question of taxability does not arise.
Message likes :
1 times
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 Liability on Trading Account in Name of Person with Disability (Autism) Operated by Guardian
- TDS on Purchase of Goods 194Q
- Tcs claim for previous financial year
- Dinner party and 194Q
- ITC on mobile phone used for business
- Inter company borrowing
- Health insurance
- Invertted duty struture
- Order from Department U/s 74
- GST RATE FOR CONSTRUCTION OF ROAD
- AMC Contract &GST &Income Tax
- TDS Return filing if only have 15G /15H deductions and no other payments
- IMPORT OF GOODS CREDIT
- 80G deduction eligibility
- GST on Tobacco - as per new notification
- Cant amend a 26QB
- Gst no of supplier cancelled from 2017
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- TDS under section 195.
Trending Online Classes
-
Online GST Course - Master the Fundamentals of GST with Practical Insights
Ruhi Joshirao19 January 2026
CAclubindia
