Tax liability of deceased father
This query is : Resolved
27 June 2023
A Father transfer his land to son as gift and dies a few months later. While scrutiny by IT department the father is liable to pay tax on certain income and send notice to deceased father. Whether the land which was received by son as gift will be considered as inherited and will be liable to be disposed to pay tax ?
27 June 2023
No, if the gift deed was registered by father in favor of son.
But legal heirs are directly responsible to clear the dues.
But legal heirs are directly responsible to clear the dues.
29 June 2023
What is the liability of legal heirs if they not received anything from the estate of deceased father ?
29 June 2023
Father had only land as an asset, when he left?
If no, whosoever inherited his belongings are liable for the liabilities.
If no, whosoever inherited his belongings are liable for the liabilities.
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
- What is process for activation of bank account freeze due to non filling of return ?
- What is income from business controlled from India?
- GST REFUND ON EXPORT EXPENSES OF EXEMPTED GOODS
- TDS on Indian ADS dividend
- REGARDING CLAIMING OF ITC CREDIT IN NEXT FINANCIAL YEAR
- TDR receipts for agreement holder
- Partnership firm engaged in commercial leasing of warehouse - under which is taxable head
- TDS NOT REFLECT IN ITD
- Vivad se vishwas scheme 2024 new
- 54 f disallowance
- Advance received for sale of land in previous financial year, but land sale after financial year end
- GST practitioner exam and income tax practitioner exam
- GSTR9 LIABILITY
- GSTR9C Turnover 1
- ITC - in 3b
- MIS MATCH OF INVOICE NUMBER
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
- GST ASMT-10 time extension query
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
