Cost of property amount taken in bank
This query is : Resolved
07 September 2025
Sir,
Request someone, please advise
My wife's mother left a flat, in which she invested 30 lacs. Now the other parties agreed to give the 1/3rd.share ( cost only) ie. 10 laks in my wife's account and not any appreciation on the flat. Is it taxable? Do we have to pay tax on this amount. And, are the other parties have to give any affidavit stating that this amount is the share of investment.
Thanks
Shailendra Kumar
Request someone, please advise
My wife's mother left a flat, in which she invested 30 lacs. Now the other parties agreed to give the 1/3rd.share ( cost only) ie. 10 laks in my wife's account and not any appreciation on the flat. Is it taxable? Do we have to pay tax on this amount. And, are the other parties have to give any affidavit stating that this amount is the share of investment.
Thanks
Shailendra Kumar
07 September 2025
Make release deed for value of 10 lakhs. No tax liability will arise due to no CG.
20 September 2025
Good Luck..
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