10-mark question · Part C · Law of Taxation

The assessee, an NRI, wants to sell the house property of his father who purchased it forty years back and died leaving behind his legal heirs, i.e. his wife, son and his two daughters. The assessee needs your advise on the following issues: (a) Does he have to pay tax on the amount that he receives? (b) How can he avoid paying tax? (c) Does his mother, who is a senior citizen, need to pay any tax? As tax consultant, advise the party accordingly with explanation.

Appeared in

• Law of Taxation · May/June 2019 Mapped paper Download
• Law of Taxation · July/August 2019 Mapped paper Download

Mapped topics

• Salary and income from house property — Unit II

Mapped case laws