The Capital Gains Blog

Posts Tagged ‘capital gains from inheritance’

Question: Inheritance of property?

I inherited a flat abt 1600 sq.ft in chennai from
my parents after their death, a year ago. Do I have to pay Capital Gain Tax on it? I have not rented it
out nor sold it to anyone, just furnished it and
keep using it. If capital gain has to be paid, what are
the ways of investment to avoid it.
savithri
capita

Answer: There is no Capital Gains Tax on property inherited by you. There will be capital gains only when you sell the property to someone.
If you have more than one house. Only one house can be taken as self-occupied and the other house is to be considered as deemed let out.

Beware advisers who bear investment bonds

Problems surrounding missold investment bonds have reached “epidemic” levels, according to independent financial advisers.

Accountants & Asesores Legal And Tax Advisors