Taxation on inherited property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2015
My grand father wrote a property division document according to which the house property will devolve from him after his death to his wife and then to my father after my grandmother's death.After my father's death me and my mother got legal heir certificate according to which property now devolves on me and my mother. My question is 1.whether the property division document can be considered as a will. 2.Any capital gains is payable on several transfers stated above.
Read more at: https://www.caclubindia.com/forum/tax-on-inherited-property-322377.asp#.VQFxk9KUdEQ
Read more at: https://www.caclubindia.com/forum/tax-on-inherited-property-322377.asp#.VQFxk9KUdEQ
12 March 2015
1. whether it is a regsitered document with the court?
2.capital gains shall arise only o selling of such property by you.
2.capital gains shall arise only o selling of such property by you.
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2015
It is not registered document.
12 March 2015
then as per non availibility of a registered will it may be divided in equal proportion in all the childreen of your parents.
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