Capital gain
Querist : Anonymous
It will also not be taxable in the hands of the grandmother if the transfer is a gift or in pursuance of a will.
When the assessee sells the property, then capital gain will be applicable in the hands of the assessee.
Querist : Anonymous
Also take into account that when you are going to sell the property then if the property is long term capital asset then the year of indexation will be the year when the property is possessed by you though you can take the cost of property of previous owner (Grandmother) or value of 1981 whichever is higher.
Thanks
Mihir Doshi
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