R purchased a flat in 1990. Through will deed flat was transferred in 2007 to S after R death in 2001.
As per R will deed flat was transferred T after S death in 2017. What is tax liability of T if he/she sale flat within 24 months or after 24 months.
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How to reduce STCG or LTCG.
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Capital gain On transfer of Capital asset held for 36 months before the date Transfer shall be taxable @ 20%.
Period for which the Capital asset held by R and S will be considered in determining 36 months in the hand of T.
Capital gain in the hand T is a long term Capital gain and shall be taxable @ 20%.
Period for which the Capital asset held by R and S will be considered in determining 36 months in the hand of T.
Capital gain in the hand T is a long term Capital gain and shall be taxable @ 20%.
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