taxability in whose hand on sale of iherited property?



On sale of inherited property, herited by son, mother and daughter, capital gain is taxable in whose hand,
* in the hands of HUF, or
* as AOP of all three members or
* individually by all of three, if so then in which ratio when there is no will??
* what if it is ancestral property and not inherited property?

taxability in whose hand on sale of iherited property?
Rate these answers

One Reply to “taxability in whose hand on sale of iherited property?”

  1. What is the status of son, mother and daughter (Individual, HUF or AOP) ??

    If your status is Individual then each individual is liable for tax on the gains proportional to his/her share in the property.

    Incase of inherited property thru succession, the share of each heir is equal. So the gains will be divided into 3.

    Last question is improper. You can inherit any property, ancestral or not. An ancestral property will normally be inherited by a very large family.

    HMT





Leave a Reply

Your email address will not be published. Required fields are marked *