Ancestral Property sale - daughters tax liability

She has to pay tax like her brothers and the same calculation method would be applied.

agree with mr advisor

First it has to be clarified that whether the land is an agriculture land or a  non-agriculture land.

*

Assuming  the land as non-agriculture land, I am posting this reply.

*

The valuation of the land as on 01.04.1981 , is required to be done with an approved valuer.

*

Such value multiplied by 7.11 will give the Indexed Cost of Acquisition.

*

Capital Gains = Sales Consideration

                 Less:(Indexed Cost of Acquisition+ Any expenditure in connection with sale like brokerage etc.)

* % of amount received to total sales Consideration has to found.

Suppose Out total sales consideration of200000/- your relative/sister gets20000/ her share will be 10%

*

Her Capital Gains will be:  Total capital gains x 10%  ( or her share).

*

For saving tax on such capital gains she has either to invest the entire consideration received by her for purchasing or constructing a Residential House within a prescribed time limit U/s 54F. or

*

She can invest , the amount of capital gain  in Capital Gain Bonds . Section 54EC

Share of sisters and brothers may be termed as family arrangement as there may be varying shares.