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section 47/168
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....ection 47/168<br> Query (Issue) Started By: - hariharpur shivaram Dated:- 27-7-2017 Last Reply Date:- 28-7-2017 Income Tax<br>Got 1 Reply<br>Income Tax<br>Section 47 says transactions not regarded as ....
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....transfer for any transfer of capital asset under gift or will. Under section 168 ,the executors have to pay Capital gain tax and then distribute the remaining amount to the beneficiearies stated in t....
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....he will. Please explain the applicability of both the sections and whether s 47 overrides section 168 with any any case law if available. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Section 47 says....
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.... that any transfer of capital by means of gift is not considered as a transfer. Likethat if a capital asset is transferred to a person by means of a will executed by the deceased is also not a transfe....
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....r under income tax. The position of executor is distinct from the above. The deceased person may authorize a person as executor and give instructions to deal with his money. The executor is to act ac....
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....cording to the instructions of the deceased and he has to pay tax on the income of the deceased.<br> Discussion Forum - Knowledge Sharing ....