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August 13, 2016 Gains from sale of inherited house taxable as capital gains
iStockPhoto I have inherited a house from my father, which he bought in 1981. I plan to sell it as I am moving out of the country next year. How will I be taxed on the gains from this? —Rajeev Bhatia The gains, if any, resulting from sale of inherited residential house shall be taxable […]
ALL DEALS August 13, 2016 Gains from sale of inherited property taxed as capital gains
iStockPhoto I am selling my ancestral residential property, which will fetch around Rs.30 lakh. This will be equally divided among all the heirs. What will be the tax liability of this transaction? Can this money be deposited in a savings bank account? —Jay Sinha In the absence of complete facts, we have assumed that the […]
