Meaning of living apart
This query is : Resolved
Guest
Guest
(Querist)
22 December 2011
Under Sec 4(1) "Deemed Assets", the assets is deemed to be of transferor if transfered for inadequate consideration to live apart...
Does live apart means divorce???
Does live apart means divorce???
22 December 2011
yes live apart is divorce.
Guest
Guest
(Querist)
22 December 2011
Then normally on divorce, assets are transfered for inadequate consideration. This results in regualar payment of wealth tax by husband for the assets transfered to his wife. OR it will be irrevocable transfer...???
23 December 2011
No i think some words are wronglly worded and quoted here
The section i think reads as For inadequate consideration except for a consideration to leave apart.
SO if assets transferred at the time of divorce it is considered as adequate consideration.
The section i think reads as For inadequate consideration except for a consideration to leave apart.
SO if assets transferred at the time of divorce it is considered as adequate consideration.
Guest
Guest
(Querist)
23 December 2011
Thank You..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
