Taxation

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sreelakshmy nair

sreelakshmy nair (Querist)
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21 February 2014 what do we mean by impartible estate

Sanket

Sanket (Expert)
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21 February 2014 Impartible estate means property which
is not legally divisible. The holder of
such property is treated as deemed
owner.
.
Eg:- X has a property consisting of 4
flats and a terrace. He divided his 4
flats among his four sons. Ownership
of terrace has not been transferred but
given to eldest son. However ,
remaining three sons are having the
right to enjoy the benefit. In such case,
eldest son shall be treated as holder of
an impartible asset (i. e . terrace).