Hi friends,
I want to know the tax implication for the money received by a sister from her brother, in lieu of settlement of her share in father's property after father's death..
Whether it is taxable in her hand if she receive money in form of Demand Draft or Cash or Cheque..
what documents she should take care of at the time of transaction of money..
What the documents should be there in support if she get income tax notice in future..
Requested my friend's expert Advice, with some case studies to support..
Thanks..
CAclubindia
