Incom from hp
aishwaryanoorni (student) (88 Points)
22 June 2015aishwaryanoorni (student) (88 Points)
22 June 2015
Rashi Bajaj
(CA)
(752 Points)
Replied 23 June 2015
If he is the only child and the property is free from any possible claims, the income will be taxed in hands of the son as you said( i.e. after allowing porportionate deductions)
Rashi Bajaj
(CA)
(752 Points)
Replied 24 June 2015
YES. In case no WILL is there, please follow the link below(discussion on legal formalities):
https://www.lawyersclubindia.com/experts/Transfer-of-property-to-legal-heirs-on-death-of-the-owner-384386.asp