Hi All,
Recently My Mother-In-Law expired. She and my father in law are the only partners in a firm which is having an asset also.Now we want our brother in law to take care of her share. Can any one help us out with a solution wihout effecting the capital gain.We are not planning to sell the property.Just her son is entered into the new partner ship deed.
Please suggest.
Regards,
Kalyan.
After the death of the mother, the son can easily inherit the property of her mother.
Therefore just change the deed to provide that the share of mother is being awarded to his son for no consideration. (However inheritance also depends upon the will executed by the mother before death)
for more queries : https://knowyourtaxation.blogspot.in/
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