Income Tax of my Mother

Income Tax of my Mother https://www.taxtmi.com/forum/issue?id=109573 Bequests and reassignment of bank balances and immovable property on death are not taxable as receipt; interest earned thereafter is taxable if it causes total income to exceed the exemption limit and may trigger a filing obligation. A gratuitous transfer from a family member abroad is treated as a non-taxable receipt for the recipient, and purchase of residential property with those funds is not itself a taxable event, though future income or transfer consequences may attract tax. en-us Sat, 19 Dec 2015 21:09:35 +0530 Thu, 23 Jan 2025 15:56:37 +0530 TaxTMI RSS Generator Income Tax of my Mother https://www.taxtmi.com/forum/issue?id=109573 Bequests and reassignment of bank balances and immovable property on death are not taxable as receipt; interest earned thereafter is taxable if it causes total income to exceed the exemption limit and may trigger a filing obligation. A gratuitous transfer from a family member abroad is treated as a non-taxable receipt for the recipient, and purchase of residential property with those funds is not itself a taxable event, though future income or transfer consequences may attract tax. Discussion-Forum Income Tax Sat, 19 Dec 2015 21:09:35 +0530 https://www.taxtmi.com/forum/issue?id=109573