What will be tax liability to all persons

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Rahul jain (Querist)
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07 August 2013 SIR,
ONE PROPERTY IS HELD BY ONE PERSON AND AFTER HIS DEATH HIS PROPERTY DISTRIBUTED TO 7 SON IN 1994. AND 2010 SIX SON RELINQUISH HIS SHARE TO HIS ONE BROTHER. AFTER ONE YEAR OF RELINQUISH HE SOLD THE PROPERTY.

WHAT TREATMENT IN CAPITAL GAIN TAX. AND TAX LIABILITY FOR ALL PERSONS AND DATE OF HOLDING.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 August 2013 who ever sold (including those who relinquish their right as it is transfer and capital gain attracted) is liable to capital gain tax.

date of holding shall be from the date of prev holder it will be included i.e held by deceased father.

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Rahul jain

Rahul jain (Querist)
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07 August 2013 SIR,
IN BOTH THE CASES CAPITAL GAIN ARE LONG TERM OR NOT.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 August 2013 psl provide the exact dates relevant in this case.

Rahul jain

Rahul jain (Querist)
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07 August 2013 FATHER PURCHASE DATE YEAR 1986
SUCCESSION DATE 1994
RELINQUISH DATE 2011
SALE DATE 2012

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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