Father property transfer to son & Daughter after death of father. following details mention In the will of father property that is property distributed to son & Daughter and rental Income received from daughter property should be transfer to mother as per will. Then Tax liability on such rental Income applicable on Mother or Daughter. Please reply
03 February 2012
I am of the view that the income is to be taxed in the hands of respective legal owner viz. son and the daughter. Payment of the rent received to mother as per the requirement of the will is as a matter of her maintainance. But the income would be belonging to son and daughter respectively.