Today news
About the same in other media
Your Queries – Income Tax: Capital gain on sale of inherited property is liable to income tax
Reading now: 683
By Chirag Nangia
After the death of my father, I am selling his flat. Is the sale proceeds exempted from income tax? I have no other source of income.—Mahesh Samarth While no income tax liability arises on inheriting property upon death of father, the subsequent sale is taxable as ‘capital gains’ in the hands of the recipient. Therefore, you have to offer the capital gains on sale of inherited house property, irrespective of whether you have any other income. An immovable property such as a flat
Read more on financialexpress.comAbout this in other media
Made money from US stocks? Check rules to report it in Income Tax Return and claim credit financialexpress.com /2 years ago
Clytie Announcing the Private Sale Open on November cryptonews.com /2 years ago
YOUR QUERIES: MUTUAL FUNDS: Invest in staggered manner based on asset allocation approach financialexpress.com /2 years ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
