Hello Members,
One of My Client is having Private Trust which is unregistered and formed in 1984-85. Trustees are no more and settlor wants to sale the property through its legal heirs. So, My query is
1. Taxation on sale of Trust Property in name of Trust.
2. Can we do direct sale in name of Legal Heir.
3. Long Term Capital gains Tax arises will be in whose name i.e Private Trust or Legal Heir.
Kindly Guide me for the same.