Tax on Inheritance
Sarika Agrawal (10 Points)
28 February 2021Sarika Agrawal (10 Points)
28 February 2021
SUSHANT BIDAYE
(578 Points)
Replied 28 February 2021
Kapadia Pravin
(17249 Points)
Replied 28 February 2021
Sarika Agrawal
(10 Points)
Replied 01 March 2021
Thank you very much for your replies. Since there is no Will left by father, the 2 sons have mutually agreed on the amount of the ancestral house.
What kind of documentation do you suggest. Should an agreement be made for the transfer of Rs. 50 lakhs and whether this document should be registered or can it be prepared on a stamp paper of Rs. 100 or 500.
Is stamp duty required to be paid for making an agreement for renunciation of right in property and how will it be shown in Income Tax returns.
Please guide.
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