Sell of parental property
Querist : Anonymous
If we sell parental property will it be a case of capital gain or other sources?
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Querist : Anonymous
IT IS NOT IN OUR NAME AND OTHER 2 SISTERS HAVE RELINQUISHED THEIR RIGHT.WE SOLD DIRECTLY.
THEN "YOUR GROUP" BECOME THE OWNER BY SUCCESSION. MEMBER'S MAY SHOW CAPITAL GAINS
IN PROPORTION TO THEIR RESPECTIVE SHARE AFTER SUCH RELINQUISHMENT OR IMMEDIATELY BEFORE THE TRANSFER TAKES PLACE.
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