Sale of ancestral property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2012
my clients father has dead having the ancestral property, his family member 2 brother & his wife sold the property about 30 lacs, please suggest me in whose hands income will be taxed.
Pankaj Gupta
(Expert)
27 December 2012
First calculate capital gain on the full piece of land. Then bifurcate the capital gain in the hands of all the members in the ratio of their share in the property.
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