Inherited property

The shares and the flat are your person property now. So where is the question of balance sheet?

if you are having business in no other trade name than declare it in balance sheet

Originally posted by : Mihir
	The shares and the flat are your person property now. So where is the question of balance sheet?

i know that .....but i need to declare it in capital account or in balance sheet summary?.....

i m not well converstant with IT and balance sheet issues....

Yes you can show it in your personal balancesheet, if you are preparing personal balancesheet... No problem with that...
 

Yes there will not be any tax implications on the inherited property and u can show it in your balancesheet.

However dividend Income from shares or Property rent (if any) will be taxable in your hands.

dividend income is not taxable.. and any income like rent will be taxable in your hand...

Submit your nomination form in the demat shares and flat. Transfer of these kind of assets without having nomination is very expensive and time-consuming.