capital gain
This query is : Resolved
19 July 2009
My father died on may—2009. he was the owner of the commercial shop.
I (son ) want to sale that commercial shop. I have a mother & sister (married ).
My father was the income tax assessee. My father has not prepared any deed/ will of that property.
sale value of that shop is RS 350000.00
WHAT WILL BE THE THE INCOME TAX PROCEDURE.
Can my sister (married ) get the portion of sale value as per the law.
I (son ) want to sale that commercial shop. I have a mother & sister (married ).
My father was the income tax assessee. My father has not prepared any deed/ will of that property.
sale value of that shop is RS 350000.00
WHAT WILL BE THE THE INCOME TAX PROCEDURE.
Can my sister (married ) get the portion of sale value as per the law.
19 July 2009
Absense of will, the property will be vested to wife, son and daughter of your father as per Hindu Laws. on sale of property, capital gain (sale consider-direct sale expendire-index cost of acquision)would be taxable in the hand of all property owners. Your sister will be liable to capital gain tax on her portion.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Copyright software
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
