banner_ad

Capital Gains tax in case of legal heirs

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
13 October 2010 Recently one of my relative expired by committing suicide due to financial crisis. He had sold his property and the entire amount was utilised for clearing the debts with private money lenders. His wife is now left with a small amount which is not even 20% of the sale proceeds. Now my question is whether the legal heirs are liable for Capital gain tax. And as there is very little money left is there any facility for an appeal. The wife is housewife and does not have any income. Two children are young and still studying. I shall be grateful if someone could assist me in this regard.

Profile Image

Guest

Profile Image

Guest (Expert)
16 January 2011 estate of deceased is only responsible for the tax liabilities of a deceased person and not the legal heirs.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro

Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details