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.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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.

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2015 It is not registered document.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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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