Section-27(ii) Income tax act
This query is : Resolved
19 August 2010
Please explain the "meaning" and "purpose" of this section, regarding deemed ownership of holder of impartible estate. Why it is impartible? can't it be called co-owned?
Pl. explain with an example.
Thank you.
Pl. explain with an example.
Thank you.
CA PRAMOD SARAOGI
(Expert)
20 August 2010
Co-owners means more than one owner of the same property but Impartible Estate means the Properties which cannot be seggregated or divided into parts . Here there are more than one properties in an Estate and holder is the owner of all these properties comprised in the Estate. Thus there is no question of co-owners arising here
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