An asseessee expires on 28 th feb.-12 after utilising the long term capital gain of Rs. 30 lacks in a new residential property ,.from selling his residential house in the month of Jan.-2012
Total long term capital gain in that case was Rs. 50 lacks.
After the death legal Heirs distributed among them self the estates equally.
My query is as due to demise he could not take / invest into bonds u/s 54 EC which he was intend to invest. wheather the legal heirs will be liable to tax on balance long term capital gain.
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