ITR 5 Form is meant for firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals), Artificial Juridical Person (AJP), co-operative society, Estate of deceased, Estate of insolvent, Business trust and investment fund, subject to some conditions. ITR 6 is a tax return form...
clients will rarely be required to pay taxes on a gift. They would need to have both an ultra-high net worth and a desire to gift a substantial portion of their estate during their lifetime to be subject to a gift tax liability. For clients who do fall into those categories, advisors ...
An important nuance here is that the rent would be collected not only on a deceased person’s land, but on his entire estate. It would thereby recoup many of society’s gifts as well as nature’s. And in Paine’s view, there was nothing wrong with this. “Sepa...