I,along with three others(two brothers and one sister)inherited house property in a district of w.bengal.Cost price is around rs5 lacs purchased by my late sister in 1995.We propose to sell it at the current market price that is much higher than the cost price.Will the sale attract any capital gains tax or any other tax?I taxable,how the C.G tax will be calculated?
One of the inheritors is a U.S citizen of Indian origin.How to proceed when his share of the sale proceeds of the property has to be remitted to USA? Baladeb Sen Sr Consultant(Finance and Banking)
Re: Capital gain tax on property inherited rom umarried sister
by Baladeb Sen on Aug 30, 2011 03:28 PM Permalink
Further to my query,please let me know if taxable,how this can be avoided by investing the proceeds at appropriate place?
