Inherited property
This query is : Resolved
28 February 2014
My nanaji(my mother's father) sold his house and distribute the sales consideration (i.e. 1.5 crores) to my mother and aunt.
My grand father(maternal) do not have PAN therefore no itr has been filed by him yet.
Is there any tax liabilty generate towards my mother.?
Nikhil Kaushik
(Expert)
28 February 2014
No. No tax liability against daughters. Your nana needs to pay taxes on this transaction
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