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property sell

07 August 2018

Property has been sold and amount received by my dad,

but property is not registered under my dad name it's registered under my dad's father

It's taxable for my dad or not

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7 Replies

rama krishnan (12234 Points)
Replied 08 August 2018

it'll be charged in the hands of your grandfather

manish jain (96 Points)
Replied 08 August 2018

For my dad it's tax free then because my grandfather died.

1 Like

Ashwin Kumar (168 Points)
Replied 08 August 2018

taxable in the hands of grandfather....pay tax and file return in his name...for your dad it's tax frew

1 Like

manish jain (96 Points)
Replied 08 August 2018

taxable in the hands of grandfather....pay tax and file return in his name...for your dad it's tax frew

Thnks sir, 🙏

1 Like

rama krishnan (12234 Points)
Replied 08 August 2018

if your grandfather died then your father obliged to pay tax to the extent of capital gain in the capacity of legal representative to your grandfather

manish jain (96 Points)
Replied 08 August 2018

if your grandfather died then your father obliged to pay tax to the extent of capital gain in the capacity of legal representative to your grandfather

Grandfather don't have any pan card

rama krishnan (12234 Points)
Replied 08 August 2018

there's no option, you have to mandatorily file ITR for your grandfather. since your grandfather expired, I don't know the what's the way out... let's wait for experts advise