Get Up To 5 Cash Offers For Your House: FiveCashOffers.com, A Pioneering Platform Transforming The Real Estate Market bignewsnetwork.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bignewsnetwork.com Daily Mail and Mail on Sunday newspapers.
Inheriting property, whether expected or unexpected, can raise some questions about what to do with it and what it's worth. Specifically, you'll need to know the property's fair market value (FMV) to calculate your cost basis for tax purposes. How do you determine the fair market value of inherited property? There are a few ways […] The post How Do You Determine the Fair Market Value of Inherited Property? appeared first on SmartReads by SmartAsset.
As per provisions of Section 56(2) of the Income Tax Act, 1961, in case a person receives any immovable property without consideration having the stamp duty value of more than ₹50,000, then the same shall be chargeable to income tax as income from other sources