- 04/25/2019 at 1:58 pm #617000EduGorillaKeymasterSelect Question Language :
Directions: The question consists of two statements, one labelled as Principle(s) and the other as Facts. You are to examine the principle(s) and apply it/them to the given facts carefully and select the best option.
Principle: Property inherited by a son from his father is not taxable.
Facts: Rohitesh died intestate in June 2015 and left a 10 acre farmhouse, which was inherited by his son Ankur. Ankur renovated the farmhouse and converted it into a club. The club was fully functional. Authorities, however, approached him to pay the tax.
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- He can only be charged building tax but not land tax owing to the above-stated principle.
- No matter how he uses the property, he need not pay any tax for it is an inherited property.
- He has changed the nature of the land, hence tax levied is justified.
- Tax can only be levied on an economically viable venture and it is not clear if the club was economically viable.
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