A person of 83yrs age dies. His income earning assets are not going to be distributed to his legal heirs for at least 2 yrs. His income will be assessed in the hands of the executor in the status of an Individual. Whether the executor will also get reduction in tax rate as applicable to a senior citizen as the deceased person was of 83 yrs age when he died?
i want to know that what is procedure when pan card correction is under process in income tax department since 3 months.but still not any movement.
what is proper steps for know what is problem ? & how i can get my pan card fast. can i contact in income tax department ?
I want to purchase a 3 BHK flat in Gurgaon for 40 lacs, But the problem is that the property cannot be transferred to my name for 3 yrs, without which I cannot apply for Home loan. How can I get a loan to buy this property.
Benificiaries receive money as well as immovable properties. Do they have to pay any income tax, gift tax or any other taxes?
A 3 yr old girl child lost her father in accident. She is survived by her mother. There is a proposal for remarriage of her mother. She may stay with her grand parent after her mother’s remarriage. That, however, is not certain. A PAN application is to be made in her name immediately. Whether her grand father can become a representative assessee under income tax act, though her mother is alive?
Can anyone clarify how will the proposal for service tax on property under construction affect the final price of property? At present the builders are imposing a flat rate of 10.3% on the final cost of the property.
I have invested in couple of ELSS Schemes for Tax Savings.
Now I am planning to buy more Units to my existing Schemes.
I see for the past few days, the Markets are in RED.
Is it a Good time to purchase more Units under ELSS now ?
Please advice !
Under Mutual Funds
Exemption on Interest paid and principal paid