Taxation
This query is : Resolved
21 February 2014
what do we mean by impartible estate
21 February 2014
Impartible estate means property which
is not legally divisible. The holder of
such property is treated as deemed
owner.
.
Eg:- X has a property consisting of 4
flats and a terrace. He divided his 4
flats among his four sons. Ownership
of terrace has not been transferred but
given to eldest son. However ,
remaining three sons are having the
right to enjoy the benefit. In such case,
eldest son shall be treated as holder of
an impartible asset (i. e . terrace).
is not legally divisible. The holder of
such property is treated as deemed
owner.
.
Eg:- X has a property consisting of 4
flats and a terrace. He divided his 4
flats among his four sons. Ownership
of terrace has not been transferred but
given to eldest son. However ,
remaining three sons are having the
right to enjoy the benefit. In such case,
eldest son shall be treated as holder of
an impartible asset (i. e . terrace).
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