TDS for sale of land

NOT APPLICABLE

Dear Dhirajlal Sir,

My father expired  15 yr back, In their name one flat of 20 yr old & We are 3 brothers of legal heir of the property, we sold the flat for 20 lac. can we pay I Tax on the money recd.

Pls reply

@ Ajay Kulkarni:

Capital gain over the flat after indexation of COA from 1996 to 2016 is to be calculated.......

All the 3 brothers who have divided the sale value (after any cost of selling) are liable for 33.33% of the LTCG thus arrived. The tax can be saved by the equivalent of amount in CG bonds u/s. 54EC.

@ Ajay Kulkarni:

Capital gain over the flat after indexation of COA from 1996 to 2016 is to be calculated.......

All the 3 brothers who have divided the sale value (after any cost of selling) are liable for 33.33% of the LTCG thus arrived. The tax can be saved by investment of equivalent of amount in CG bonds u/s. 54EC.