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Transmission of money
1. a dmat account is held by a mother her son and his daughter in law. Mother dies the securities are transmitted to son and daughter in law. What is the tax liability.?2.the amount received by the so n by way of premature closure of FD in above case what would b tax liability.?
Replies (4)
1. No tax liability over transfer of assets like FD, demat shares etc. to the legal heirs after demise of the assessee.
2. The capital gains over sale of shares through any stock exchange where stt is paid, will be tax-exempt if held (in aggregate) for more than 12 months.
3. FD interest would be taxable, not principal amount.
sir pls tell me that can a person be tax consultant without having degree of LLB or CA. But he is B.Com holder.??
yes for that you have to apply before CCIT with required details and on approval, you can practice as income tax practitioner
Attaching a random file.. that might be useful to you.
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