Taxation law

YAGNESH HASMUKH DAVE (Querist) 09 February 2013 This query is : Resolved
mother has expired now his daughter is receiving her mother gold jwellery what type of legal document she has to make for income tax purpose will the gold jwellry value will be reflected in her personel capital a/c & balance sheet any tax will be levyed please advice as i have to file her income tax return

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Raj Kumar Makkad (Expert) 09 February 2013
There is no question of paying income tax in the given facts, however, she shall duly show the items in her returns being received in inheritance.

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