TRANSFER OF CAPITAL

CA JONI JAIN (PARTNER) (51 Points)

24 March 2010  

AFTER THE DEATH OF MR.X  AND MRS.X, THE FATHER & MOTHER OF 2 BROTHERS AND SISTER RESPECTIVELY.HOW CAN B THE CAPITAL B DISTRIBUTED AMONG RESPECTIVE HEIRS.IE SONS/SISTER AND THEIR RESPECTIVE WIVES/HUSBAND/KIDS.  IS THERE ANY AGREEMENT TO BE MADE?IF THERE IS NO WILL?CAN THE TRANSACTION TAKE PLACE BY A CASH ENTRY.?