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