Inherited property



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
 
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Articled Assistant

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.,
 
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if property is transferred then tax liability may come
 
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