Capital gain on inherited property

12 August 2019
My father in law purchased house in 1969 and he passed away in 2015. we five(mother,daughter,3 sons) have sold the house for 1 crore. each one received rs 20 lakhs and it's mentioned in sale deed also
the capital gain computed as 60 lakhs

now mother has invested 20 lakhs and others invested rs 60 lakhs(20 lakhs each in rec bonds)
for my share i did nothing(Bonds or property purchase)
whether i need to pay tax or no need to pay tax for the investment of others (as they have invested above capital gain)
We received the amount thru bank only.
pls give suggestion


Click to Talk 12 August 2019
You need to pay tax as you can't avail the benefit of other's saving.

Balakrishnan (Querist)
13 August 2019
Thank you sir, i am residing in abroad shall i invest a house property within 2 years without depositing in capital gain account scheme ?


Click to Talk 13 August 2019
Yes you can do it but deposit the amount within this month in capital gain deposits if sale taken place in FY 2018-19.

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