Tax Implication on sale of property when Brother and Sister both Own it ?

POSTED BY madhavakumar.k ON September 30, 2013 7:14 pm ONE COMMENT

My father had executed a settlement deed in favour of me and my sister seven years ago for an independent house on 50;50 basis located in chennai. This is also registered in the local registrar office. After his death 5 years ago both of us want to sell this property and share the proceeds on 50 50 basis. Both are agreeable. Please advise me on the various tax implications on the money so received.

One reply on this article “Tax Implication on sale of property when Brother and Sister both Own it ?”

  1. ashalanshu says:

    Dear Madhav, the tax ‘ll also be 50-50% between you and your sister. As simple as that.

    thanks

    Ashal

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