DISOLUTION OF ESTATE OF A DECEASED PERSON

[CABIJENDERKUMAR BANSAL]

Dear All

Please help on following query:

Assessee expired in 2010-11 and pending family settlement , family members created Estate of deceased person transferring all movable and immovable properties held by the deceased person. now they want to disolve estate. My query is what is the procedure of this, and what are the tax implications on transferring properties by estate which is an AOP as per income tax act.

AI Summary

Guidance Sought on Dissolving Estate as AOP: Procedure and Tax Implications Under Income Tax Act An individual inquired about the procedure and tax implications of dissolving an estate created by family members to manage the deceased's movable and immovable properties. The estate is considered an Association of Persons (AOP) under the Income Tax Act. The response suggested contacting specific experts via email for detailed advice.