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Do I need to pay any tax on my share amount i receive after selling inherited property?

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in Income Tax – Individuals & AOPs by

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by (25.1k points)
No, dont need to pay any tax thereon
by (100 points)
Why? Suppose Mr A inherited the property in 2021 and sold in 2025 tax year for a gain of 1M. He will not pay capital gain tax as per holding period?
by (11.0k points)
No. In case of inherited property the purchase date/price will be calculated as of the deceased person.

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