Capital gain

Gangatharan (Partner) (108 Points)

12 June 2014  

Dear all,

My grandmother's sister were expired on 2008. Her asset(House) was sold on 2012 for an value of 1 crore. SInce she dint had any son/daughter, my sisteres and brothers were share that sale proceeds. Is it liable for capital gain tax/ gift tax?? Should i pay for tax for that??

Your suggestion will be appreciated.

Thanks in advance..