Ancestral property

M.A.Khan (Querist) 06 June 2014 This query is : Resolved
Dear sir
My wife got share in his father's property. This property was owned by my wife grand father since 1950. Now my wife decided to sell that property. Now what tax she has to pay. Is any capital gain will be charged on it?

Other question is long term capital gain tax will be charged @10% if no indexation cost is less from the selling cost of property is it true? And if so then actual property buying cost will be deducted or not please advise us

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T. Kalaiselvan, Advocate (Expert) 07 June 2014
I have given my opinion to your this repeated question in another thread posted by you. Please visit that thread for knowing my opinion.

Rajendra K Goyal (Expert) 07 June 2014
Repeated query:

http://www.lawyersclubindia.com/experts/Capital-gain-on-ancestral-property--476176.asp#.U5KaFChKqRQ

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