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sorankee (s)     06 June 2011

Partition deed or settlement deed

My mother,a younger sister and I have inherited a house property from my father who died intestate.I want to acquire the  property by paying my sister who is an employed professional a consideration and my mother is willing to relinquish her share in my favour.

Is it true that a partition deed attracts capital gains tax in the hands of my sister but a settlement deed does not?



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 1 Replies

prakash sahay (advocate)     14 June 2011

There will be no capital gain tax . The inheretance will not lead to any tax on your sister

Prakash Sahay

psahay_advocate@yahoo.co.in

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