We three (2-brothers & 1-sister) now inherited one old flat acquired by my mother in 1976 at 60000/-. we want to sell the same and distribute the amount equally in 3 of us. what will be a tax liability on each of us. regards-rahekar
My mother in law is getting a share on a family property...The entire property is going to be sold and she may receive her share in cash or cheque. Will there be any tax,she is a senior citizen does sheneeds to pat tax and can she avoid by investing in a property within 6 months.
My father bought a property for 900 rupees in 1950,he died in 1997,I inherited 1/4th of the property in 2007 ,and now I have sold my share for 12.46 lakh,How to calculate my capital gain ?What should be the tax I need to pay ?How I can minimise the tax ?
I,along with three others(two brothers and one sister)inherited house property in a district of w.bengal.Cost price is around rs5 lacs purchased by my late sister in 1995.We propose to sell it at the current market price that is much higher than the cost price.Will the sale attract any capital gains tax or any other tax?I taxable,how the C.G tax will be calculated?
One of the inheritors is a U.S citizen of Indian origin.How to proceed when his share of the sale proceeds of the property has to be remitted to USA? Baladeb Sen Sr Consultant(Finance and Banking)
Re: Capital gain tax on property inherited rom umarried sister
by Baladeb Sen on Aug 30, 2011 03:28 PM
Further to my query,please let me know if taxable,how this can be avoided by investing the proceeds at appropriate place?
I want to sell some books which i inherited from my father, as these are of no interest to me. the books would have been purchased or received by him as gifts between 1930 and 1940.
I have inherited agricultural land at Haldwani(Uttarakhand) during 1981 after death of my father. Now i want to sell certain part of the land therefore want to know the exact calculation of the capital gain tax. Property is situated in the taluka Mukhani(Haldwani).
I sold an inherited property for 35 lacs. The owner from whom I inherited the property purchased it at 2.5 lacs
I am now buying an apartment for 36 lacs. Agreement to sell is for 20 lacs and Construction agreement for 16 lacs. All paid to developer through demand drafts for which I have recieved official receipts.
My developer is asking me to register the sale deed using guideline market value which amounts to 23 lacs for undivided share in land.
If I register the property paying a stamp duty on 23 lacs can i still save on capital gains tax on the 7 lacs left from sale of inherited property? I have the official receipts from developer for the full 36 lacs I paid him.
