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Capital gain in the year of inheritance

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(Querist)
12 May 2015 HI

CAN ANYONE CONFIRM ME FOR SHOWING CAPITAL GAIN CACLULATION IN THE YEAR OF INHERITANCE, INCOME TAX RETRUN.

PLEASE CONFIRM FOR TAXABILITY BY CAPITAL GAIN TAX IN THE YEAR OF INHERITANCE ONLY NOT SOLD DURING THAT FINANCIAL YEAR.

REGARDS
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
12 May 2015 Inheritance is not a transfer so there is no capital gains in the year of inheritance.
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CA Kanj Goel

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CA Kanj Goel (Expert)
13 May 2015 Agree with paras you should read section 47 49 55 of income tax act to get clarification.




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