POSTED BY April 8, 2014 5:56 pm COMMENTS (13)ON
My father has been purchased a land of my mothers’s name in 1994 and constructed a house on that land.
My father has been passed away in 2011. My mother is a senior citizen. Now she want to sell that house and give the amount of sale to her 3 sons equally so that they can invest this amount in their name or further purchase of home (one of son) or settle the homeloan (another son).
Whether there any tax implications on any of them (Mother or son)? If there is any tax implication how can one avoid that?