If the seller qualifies as non-resident during the relevant financial year, the buyer is required to deduct TDS at a specified rate on taxable capital gains on the sale of immovable property I am a UK resident and my brothers in India divided our father’s property, and I inherited some land parcels.
I may transfer it to my son or sell it and repatriate the money to the UK. What will be the tax implication of inheriting and selling the properties?
Will my son be liable to pay tax if I transfer it to him? —Nitin Kumar Income tax is levied on any sum of money, specified movable property or immovable property received without consideration (without a quid pro quo), except where it is received under a Will or inheritance or as a gift from a