IF MR X DIED AND HIS PROPERTY AUTOMATICALLY TRANSFERED TO HIS WIFE IF HIS WIFE TRY TO TRANSFER SOME PROPRTY/INCOME TO HER DAUGHTER WHAT IS THE PROCEDURE TO SUCH TRANSFER AND THEIR TAX IMPLIFICATION.
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 07 June 2016
Rahul Verma
(CA-Final)
(484 Points)
Replied 07 June 2016
Under this provision, it will attract clubbing provision. Income should be taxed in the hand of her mother as arising from property.
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