i have 4 brothers , after my parents death , since my parents had not prepared any will that's why we distributed property among us . while distributing every one gets movable and immovable assets.
My question is , as i have got cash , jewellery , gold , gold coin as movable asset directly in my hand , since the cash , gold and other movable asset were in my parents home , it was not deposited by my parents any where, they hold it in home , therefore we got directly in our hand . then if i use that money for investment in movable or immovable asset , will i have to face any problem ?
Will i have to proof IT department from where did i get that money /gold ?
if yes then what should i do now ...
How to handle that money because it is not earned by me , how will i tackle IT Officer if they have an issue ...
Please experts , suggest me ... what should i do now ?
CAclubindia
