Tax on sale of inherited land (after father's death)

We siblings have sold a land inherited from our father after his death. The land may not be in Muncipal limits. Also sold after 3 years from date of purchase. I am a salaried person but my siblings are not. Will I have to pay any Capital gain tax?

Responses from experts appriciated.

 

Replies (1)

The facts provided are few and so it is difficult to come to any conclusion. 

1. Was it an agricultural land?

2. Was agricultural activity carried on on the land prior to sale?

3. What was the buyer intending to do with the land? Was it for housing purposes?

4. Was the land shown as agricultural land in Revenue records at the time of sale?

5. Is the land falling within the urban zone?

The answers to all these questions are relevant and will decide on your tax liability or otherwise.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details