Hi All,IIt will be great if you can help me with the below question that I have. My grand father had a property on his name which was transferred on my dad’s name after my grandfather’s death. Recently we sold off the property and the amount was divided among my Father,Uncles and Aunts equally.
Now the question that I have is that my two uncles further invested this amount which they have in property and they are saying that the tax which has to be paid for sale of property , they would be paying their own share individually though as far as I understand they can not get any rebate on buying a property as the entire thing was on my Dad’s name and he is entitled to pay the tax.
Please let me know if
1. They get a rebate on buying a property with the amount distributed even if the sale deed was on my dad’s name.
2. Can they pay their part of tax themselves.(Like if my dad has paid them can that amount be deducted from my dad’s share for tax purposes)
I would really appreciate if someone can hhelp me on this.
Regards,3 replies 1 helpful answers Last Updated: 8 months, 1 week ago
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