If a property is purchased out of rent derived from ancestral property. Then will the property so purchased will be regarded as ancestral or self acquired property?
ramakant (hod) 22 June 2014
If a property is purchased out of rent derived from ancestral property. Then will the property so purchased will be regarded as ancestral or self acquired property?
Lawyer SALEEMA KABEER (Advocate Madras High Court & Legal Consultant Chennai Law in Law Firm. +91-9698884779) 22 June 2014
It would be treated as ancestral property, subject to the proof that the said property has been purchased out of income arrived from the ancestral property.
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