House property sold
This query is : Resolved
15 March 2015
grandfather's house property is proposed to be sold
the proceedings from the house will be given to the grandma and will eventually be distributed among her 4 childrens equally
what would be the tax implications to be looked onto
15 March 2015
We have to pay capital gain tax on sale of house property. No tax payable on distributions being relatives exempted from tax.
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