My friend and his mother inherited a flat, which was sold by them. Now the question is how to calculate the capital gains if any.
The particulars of the transaction are as under.
Flat was purchased by Mr.A in his name during FY 2007-2008..He is married and has a son.
He expires in the year 2011.
His wife and son inherit the property and pay all the taxes.(there was no will)
The flat is sold in FY 2019-20.
How to calculate the capital gains /loss?
If there is a gain who should pay the the Capital Gains tax and in what proportion.?
CAclubindia
