Income from sale of fathers self acquired property
This query is : Resolved
04 February 2025
I have recd through a will my father's property which comprises of a house built on a plot in harihara a town in karnataka. I want to know whether any tax will have to be paid me after sale if do how much . Iunder which section i have to show the income from salecof property in mu income tax return. Thanks
04 February 2025
Capital gains tax applicable at the rate of 12.50 on gains over the cost incurred by your father.
If it's acquired before 01/04/2001 market rate on this date may be adopted for cost.
If it's acquired before 01/04/2001 market rate on this date may be adopted for cost.
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