Query on capital gain tax

House1:Me (married salary employee), my married sister & our senior citizen mother are heirs for Residential property in which we lived for 36 years. We recently sold it and each one of us got 49,50,000. Each of us paid 99,000 as brokerage.
Date of construction: 01-MAY-1981 (it was a bungalow). My father is no more so no idea how much he invested to build this house1.
Date of sale: NOV-2017
Location:Pune
House2:Me (married salary employee) & my wife (housewife) sold our flat in MAY-2017
Each one of us got 31,50,00,000. Each one of us paid 31,500 as brokerage
Date of Purchase: 21-JUL-2017
Date of sale: 09-MAY-2017
Location:Ahmedabad
We recently bought a house (we recently moved in this flat) in which I invested my share which is 49,50,000 + 31,50,000=52,65,000 + wife invested her share which is 31,50,000 + mother invested her share which is 49,50,000. In short, we invested 100%.
I will be filing ITR-2 and wife + mother will be filing ITR-1. No tax to be paid from any one of us.
Please clarify our understanding.
 

Replies (1)

1. Your sister liable for LTCG tax

2. Capital inflation index base year shifted to 2001.

3. New purchased flat should have all three co-owners as per registred deed.

4. All 4 sellers will declare capital gains in ITR 2 ( number may change in AY 2018-19)

Good luck

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