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House property
i inherited from father and we are 4 co-owners, me(24),my brother (17),my bhuwaji holding equal share (55yrs) and my mom (50yrs). Frds want to know APART from Individual File ANY OTHER WAY to open separate file as it could heavily save my taxes....is there any Pure way...pls note the property is still in my grandfather's name...pls help...thanks in advance.
Replies (2)
First get the property transferred in all 4 co-owners, then tomorrow if you all wish to sell the property, LTCG will be attracted on each one of them as per their share in the property, not more.
Mihir,i do not wish to sell now.
Presently Rental agreement includes name of all four.
My query is further,is there any scope for Additional file like Huf,Trust..
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