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Capital gain query-interesting
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If the Ancestral Property is owned equally or in any other pre-decided ratio, then the capital gain will also be taxable equally or in the pre-decided ratio of all the three assessees.
On selling the Ancestral Property they will earn Long Term Capital Gain which will be taxed @ 20%, also the Indexation benefit shall be available while calculating the Long Term Capital Gain Tax.
Regards,
Devendra Kulkarni
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