Capital gains or not?

Hi,

Story so far: Mother has 2 daughters. Sells a house registered on her name, through a POA given to the eldest daughter. The eldest daughter having the POA executes the sale and the buyer transfers the sale consideration to the eldest daughter. However to be on a safer side, the buyer also transfers some part of the sale consideration to the 2nd daughter.

Mother passes away within days of the sale and per the will of the mother, eldest daughter transfers 50% of the sale proceeds to the 2nd daughter. How should tax be paid in this case? 

Thanks

Replies (3)

When the sale executed, the owner/transferor was alive......... (though deed executed vide GPA)

Tax liability and complience of ITR filing, of mother, should be fulfilled by her legal heir.

Thanks Dhirajlal ji. Out of curiosity, do you think the scenario would have been different if the mother had passed away before the completion of the deal?

Yes.............. In that case the house along with other assets of mother would have been transferred to legal heirs first......

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details