Sale of property inheritance

I sale a property which is received from my father in inheritance
I sell that property in 80 lacs and amount received In saving account
how to show this in income tax
Replies (2)
Quick Summary
When you sell a property inherited from your father, you will likely incur Long-Term Capital Gains (LTCG) tax. The cost of acquisition for indexation purposes will be calculated from the date your father originally purchased the property. This means the period of ownership starts from your father's acquisition date, not when you inherited it.

LTCG will arise in your hands
LTCG will arise in your hand and indexation of cost of acquisition will be calculated from the previous owner when he was purchased.

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