Taxability on Transfer of Deceased share or MF to Legal Heir? 1. Taxability in hands of Deceased at time of Transfer? 2. Taxability in hands of Legal Heir? Not sold as on date.
Replies (3)
Quick Summary
Inheriting shares or mutual funds from a deceased relative generally doesn't incur immediate tax. The inheritance itself is not taxable. However, capital gains tax will only become applicable when the legal heir decides to sell these inherited assets. The tax is calculated based on the value of the shares at the time of sale, not at the time of inheritance.