POSTED BY January 19, 2012 4:15 pm COMMENTS (3)ON
My friend wants to sell house for Rs. 5 Cr.s which his father had made in 1979 (with completion certificate). His father died without making any will and family consists of his wife,two daughters, mother and younger brother. Now what do you say about the situation when family members want to sell this house made by his father.
(1) how the proceeds will be distributed?
(2)All legal formalities and documents required ?
(3)Income tax liabilities and how to pay least income tax or no income tax?
(4)How proceeds to be invested by all?
(5) Any other suggestions.