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Inherited property

Others 310 views 2 replies

CA Anand hurgat

CA IN PRACTICE

72 Points Posted on 12 June 2019

Dear sir,

I have a property inherited from my father but till date i don't have any pan card. Now i want to apply for the same and file ITR. Now what i have to do with this inherited property in ITR. Please guide.
Thanks in advance

Replies (2)

Sreekanth

Articled Assistant

38 Points Posted on 12 June 2019

there won't be any tax liability on inheritance. And you can apply for PAN card (online/offline) since it is necessary for some financial transactions in future like sale of properties, deposit of cash in bank account above certain limit etc.,

rahul karke

93 Points Posted on 12 June 2019

if property is transferred then tax liability may come

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