Capital Gain Tax on Sale of Inherited Property|How to Calculate FMV of Property as on 2001|Taxpundit

A capital gain may either be short term, or long term, depending on the period for which the asset was held. If the inherited house is held for more than 24 months, it is treated as a long term asset. This period of 24 months includes not only the period for which you held the house, but also the period for which it was held by the previous owner/s who had paid for it.
For a holding period of less than 24 months, the actual cost of acquisition and any cost of improvement are deducted and the balance amount is treated as short term gains and taxed at the slab rate applicable to you. If the combined holding period exceeds 24 months, you get the right to deduct the cost of acquisition and the cost of improvement as enhanced by the cost inflation index multiplier. The cost of acquisition will be the amount paid by any of the previous owners, towards the purchase of the house.
In case the house was inherited before 1st April 2001, you may substitute the fair market value of the property as on 1st April 2001 for the ‘cost of acquisition’ and apply the cost inflation index multiplier on that value.
For a long-term asset, you have two options to save taxes. You can either invest the capital gains on the purchase of one house within two years or construct one house within three years. Alternatively and/or additionally, you can invest the capital gains of up to Rs 50 lakhs in bonds of NHAI or REC, within six months of its accrual.
Currently, the LTCG on the sale of a property is fixed at 20%. STCG is calculated as per the marginal income tax slab of the inheritor and can be up to 30%.
Like & Share this video. Subscribe our channel.
Our website : www.taxpundit.org
GST Case Laws : gst.taxpundit.org
Follow us on Twitter : @Taxpundit1
Follow us on Facebook : /taxpundit.org
Thanks for watching. Stay tuned for more videos.

[@AmarjitSingh-nm6gv]

ਸਾਹਿਬ ਸ਼੍ਰੀ ਜੀ ਇਹ ਬਹੁਤ ਹੀ ਸ਼ਾਨਦਾਰ ਅਤੇ ਸ਼ਲਾਘਾਯੋਗ ਵੀਡੀਓ ਏ,ਜਿਸ ਵਿੱਚ ਆਪ ਜੀ ਨੇ ਬਹੁਤ ਹੀ ਸੁੰਦਰ ਤਰੀਕੇ ਦੀ ਭਾਸ਼ਾ ਨਾਲ ਸਮਝਾਉਣ ਦਾ ਯਤਨ ਕੀਤਾ ਐ। ਬਹੁਤ ਬਹੁਤ ਧੰਨਵਾਦ ਆਪ ਜੀ ਦਾ❤

[@diliptupe5319]

Very nicely explained, in short , simple & sweet language. Thanks

[@arnav0708]

Thank you so much.. you ate the best. This is one of the best explanation on Capital gain tax calculation in youtube. Keep up the good work sir.

[@sonelalkol3050]

Bahut sunder tarike se apne smghaya hai. Dhanyawad Sir ji

[@deepikaa3658]

Well explained. But you have not given the calculated income tax amount to be paid on capital gain for the examples you told. It's incomplete. Pls clarify one example where the property was purchased in 1998..

[@saamy4607]

Video is very easy to understand and informative.

[@bharatpundir8192]

very good video. i got my doubts clarified. nicely put by you. Many thanks.

[@kiranv4110]

I liked it so much that I immediately liked and subscribed. Thanks for sharing this nice video . You have explained everything so clearly for inherited property. My question is regarding a property purchased by me in 1997 and which I want to sell now. 1. I understand that the cost of acquisition will be calculated similarly by finding the FMV on 01/4/2001. 2. Capital gains will also be calculated similarly, as told by you in this video. Please clarify Thanks

[@nkrishnamys]

Sir ji, very good information. Sir if the inherited property (inherited 15 years ago from today) is sold last month at 100/- and from this received 100/- one buys a new property of 25/- within 2 years for example; what are the Tax implications?

[@satyaprakashsharma9398]

Excellent guidance.Thanks a lot sir.Pl keep it up for new techiniques.

[@riteshr7245]

Very clear and concise

[@rabindranathkarmakar9881]

Explained very lucidly. thank you.

[@ashuntu2010]

grandmother se mili property par capital gain kaise calculate hoga?

[@deepakpandey1191]

Sir, thank you, your video was v informative...God bless you...🙏

[@MP-lb1bv]

Nice information...but registered valuer will depend on sales instances only for valuation.

[@ashishagarwal5285]

Very very good explanation

[@rajesh_m1450]

Sir, ek inherited property hai.100 Saal Purana.. jiska owner avi me hu..Mera pass documents hai..but documents me mention nhi hai, my great grandfather kitne me purchase kiye the...index kaise calculate Kr Sakta hu

[@visweswararaodss6646]

Very nicely explained.

[@1552009mahesh]

Thank you sir very well explained. I have one query glad you if reply. Residential Property was purchased by grandfather. After his death it got transferred to his son. After his sons death it was got transferred to his son. Please note no any will was made. Everything was mentioned in memorandam of transfer of shares. Property is now sold by last son. Please let us know do we have to take the amount of purchase incurred by grandfather as cost of acquisition and should we treat this as LTGC. property was acquired by in 1986. Sold in 2022.

[@savvyverma7610]

Ancestral property ke agar 5 legal heirs h aur hum ek ke naam kardete h toh tax kese show karege?

[@Apramyathakkar]

Bahot sunder

[@vijayankunnumpurath6427]

Very nicely explained. Thanks

[@mukundambekar]

please give exemple of resale of properties

[@indrajitdube5030]

Sir very good and informative video. Can I show cost of acquisition of inherited property as zero and pay 20 percent tax on entire sale consultation.

[@prakasht1994]

Good information

[@subhashhanamgond1199]

Pl make video on how to calculate Long Term Capital Gain & Short Term Capital Gain for buying Shares from stock market & how to show in form No.16 & under what section?

[@TaxPundit]

This video may help : kzbin.info/www/bejne/iYGwZYBneL-fp7M

[@deepakt9257]

Sir circle rate kya hota hai ...kya uss pe bhi depend karta hai ki hamara capital gain kya hoga ..ya nai capital gain totally depends on total sale value minus the indexed cost ..their diff. Is capital gain.....doesn't matter whatever the circle rate whether less or more than indexed cost or sale cost ......capital gain has nothing to do with circle rate..please clear this point

[@eugenemokwele5113]

When I finally find a vid that contains what I need to learn, but it is not in English!....gotta keep searching

[@sanjeevrathour]

Sir, Which value to consider for calculating LTCG under section-54 , arises by sale of resid.property. 1) If circle rate/property value for stamp duty "is more than" consideration value (sale deed value) in FY2015-16. So, which value to consider as purchase value?? Thanks,

[@Exceltrainingvideos]

Excellent! Clear explanation with all important details.

[@TaxPundit]

Thanks for your kind words

[@murlikrishnamurthy6638]

I think wef 1/4/2020, the value as per thr valuation report by a registered valuer cannot exceed the circle rate

[@sumeshsinghnagpal7155]

Very good video informative

[@md-pq8pc]

Sir is there any website to calculate FMV or circle rate of property as on 1/4/2001 , i need it bcoz i have have purchased property in 1990

[@saxonrawley3813]

Ancestral property could be held over 50 yrs ..how to calculate capital gains

[@monasandip]

How to calculate LTCG on Inherited Property if cost of acquisition is not known. I have 80 years old house inherited from my grand father, House is on prime location and was built in 1947. We have done renovation of the same 4 times but bills of the same are not available. How to calculate LTCG on the same.?

[@arunrai6575]

Sir, my father purchased land in 1969 at a cost of Rs 2000. Then constructed house in 1973. In 2014 he written a will for 3 sons equal division. In 2015 very sad he died in 2015. We 3 brothers then divided in 3 equal part as per will and make in own name part wise from nagar nigam. Got separate house number. Now all three wants to sale...Or one person...Cost of one parte getting 60 Lac. And all 3 parts 1.8 Cr. Plz tell is this capital gain or how much we have to pay. In 2001 market value suppose 10 L...Then capital gail tax kya hoga sur kaise save karen.

[@ASen03060]

When we sell plot of land,purchased before the year 2000,in income tax capital gain is calculated taking the circle rate of that plot for the year 2001 and multiplying it with index price for the year of sale divided by 100 to get acquisition cost. Then the indexed acquisition cost will be deducted from fair sell value of the property to find out capital gain. Now question arises, where shall I get the actual circle rate of the plot for the year 2001? Is there any government approved table of circle rate yearwise, wherfrom I can get the actual circle rate of that particular plot for the year 2001? Please help me.

[@Shivvaayy]

Useful info

[@Nikkymgt]

Can anyone tell the answer please!! Mr. C inherited from his father 8 plots of land in 2000. His father had purchased the plots in 1996 for Rs.5 lakhs. The fair market value of the plots as on 01.04.2001 was Rs.8 Lakhs. (Rs.1 Lakh for each plot) On 11 June 2014, C started a business of dealer in plots and converted the 8 plots as stock in trade of his business. He recorded the lots in his books and Rs.45 Lakhs being the fair market value on that date. In June 2018, C sold the 8 plots for Rs.50 Lakhs. on the same year he acquired a residential house property for Rs.45 Lakhs. He invested an amount of Rs.5 Lakhs in construction of one one floor in his house in June 2019. The house was sold by him in July 2019 for Rs.63,50,000 The valuation adopted by the registration authorities for charge of stamp duty was Rs.86,50,000. As per the assessee's request the assessing officer made a reference to a valuation officer. The value determined by the valuation officer was Rs.87,20,000. Brokerage of 1% of sale consideration was paid by C. Give the tax computation for the relevant assessment years with reasoning.

[@sunnysood9337]

Village property ka kaise calculate hota phle Dada ke pass thi fir father ke pass fir unke bacho ke pass

[@piarasinghmatharoo4952]

Dear Sir my mother purchased agricultural land approx 5.4 acre in yr1968 in my name . and brother elder brother expired three yea back his wife and two sons are there. We decided to sell proprty for Rs22ooo nowadays sale price is approx 10cr and is in municipal limits pl advise cap gain calculations PS Matharoo Chandigarh

[@cybershake9200]

I thought there was no tax on agricultural land.

[@gopalakrishnakameswararaoa4721]

good explanation and clarification, but had it been in English it would have been still excellent

[@TaxPundit]

Thanks for the kind words. All videos have slides and description which is in english and should help understand what is being said. Please share video in your social networks.

[@rajkaransingh3243]

If none of my ancestors had ever purchased the land or paid any price for it to anybody, and the same was inherited by me on the death of my father, what will be the cost of acquisition of this property as per IT Act, 1961, if I sell it to someone ?

[@djankoulrea3463]

Nice video.. Does the same apply for self constructed house ?

[@arpanrathi9668]

sir, Its looking the formula for indexed cost of accquistion is different from the question you solved . I think the formula that is written is wrong but the question is done by correct formula

[@harinarayanab225]

Sir, suppose site/plot is purchased in 1965 for rs. 10000 and construction done in 1995 at 2 lakhs rupees , then cost of acquisition us Rs. 210000 or rs. 10000 or rs. 2 lakhs. I have inherited the property in 2016. Pl clarify. Thank you Hari Narayana

[@dsr9329]

Thanks for valuable information, really I needed it.

[@amitpatadia]

nice informative video

[@jkfloray]

There is an inherited property that was alloted to my father by Bombay Housing Board in 1955. This property was given to tenenants at cost of ₹5000/- around 1977. My parents have expired and I may sell off the property and distribute the money among us 5 sibblings. Property may sell for ₹85L. What amount will be taxable. From 1955 to 1977 BHB was charging some rent.

[@TaxPundit]

You have to find out Fair Market Value (FMV) as on 01.04.2001. Index it and reduce it from sale consideration. Result is the capital gain which will have to be declared in ITR by all siblings according to their share in the property.

[@jkfloray]

@@TaxPundit Thanks for prompt reply.

[@TaxPundit]

Welcome

[@hussainkhan7612]

Sir , can we invest in 2 rural or 2 urban agricultural properties from the long term or short term capital gain

[@abhimanyudatta9293]

Sir, For Arriving Fair Market Value As on 1.4.2001 Can we adopt This? Say I am Selling in Jan 2021 ( Present Index 317 , And 2001 Base 100.) I am selling Ancestors Property 40 Lakhs. Hence If I do Back Calculations 40,000,00/317* 100 =126183 . Secondly if I do not take Advantage Indexing, Straight I am Taking 10% 40 Lakhs =4 Lakhs My Pention Income 20 K =Total 2.40 Lakhs Total Income Of All Heads 6.40 Lakhs. As A Super Sr Citizen Exempted upto 5 Lakhs. My Tax will Come On 1.40 Lakhs @10% . Or Capital Gain Tax I Can't Clubbed. Have to Pay 4 Lakh Tax?

[@akshajmittal851]

Thnx sir,your videos r really good and accurate.Keep doing this good work,it's a kind of social service.

[@TaxPundit]

Thanks for the kind words. Keep watching our videos.

[@dipakchakrabarty1122]

@@TaxPundit by by

[@subhashchandersethi9885]

very infurmative subhash sethi can you sujest & help Igot inherited undivided property of my father by RD with my brother in December 2018. The property was constructed 1979 on plot alotted by DDA somewherein 1976 to my father. Further I constructed 1st&2nd. fioor in 1999. In Aug.2019 this property was sold by us and consideration as per reqisite share was received. now I want to know what will be acqvisition cost to be taken for calculating capital gain. Thanks

[@TaxPundit]

There are 3 different ways to determine cost of acquisition of properties which have been purchased/constructed before 2001. They are explained in detail in the later part of this video. Pls watch till end.

[@JayKumar-qs1di]

VERY USEFUL INFORMATION , THANKS. KINDLY MAKE A VIDEO FOR Capital Gain Tax on Sale of Inherited Property IN AY 2024-25🙂🙏

[@arunjoshi6169]

Sir my father old house 1978, was valued by Bank's valuer in Feb 2000, is it a Valid for LTCG SOLD in 2024. Pls allow me send copy. Thanks

[@krishnamurthysundar5634]

Thanks for good explanation how to work Capital gain. Canucks clarify in case husband invests full consideration for purchase of prperty and registers in joint names of himself& wife.. on death of wife the property devolves on her husband and their so.The father becomes owner of 75%and son25% owner.son relinquishes his 25% share in favour of father and father disposes off the proprty within 24 months from reluishmeng by son.pl clarify whether to the extent of 75% LTCGand to the extent 25% STCG apply? If so how the cost of acquisition to be computed for making Capital gain calculated. I will be thankful if you clarify please.

[@akhileshjuyal3463]

hello Sir, I have a question, when we get residential property (house) by WILL, if that be considered as the first residential property for heir?

[@PawanBansalMK]

Sir, my dad had a house in Haipur which he bought in 1994. He died last year in March 2023 without any will. My mother/sisters/brothers signed a Release Deed to my name. Now if I sell the house, do I pay taxes as per Long Term capital gain Or Short term capital gain?

[@kunalcharupa38]

सर वेल्लूर भी 2001 की प्रॉपर्टी की वैल्यू निकालने के लिए रजिस्ट्रार से सर्किल रेट का पेपर लेते है या पास की प्रॉपर्टी की रजिस्ट्री वो कैसे फाइंड आउट करते है रेट्स

[@bindimgn]

Very informative sir, i have a question ancesrtal property inherited by me brought by father in year 1975 for 12.500 ,if i sell it for 70 lacs what will be the lomg term capital tax and how to minimise the tax . will be very thankfull to u if u can clarify .yhanks

[@madhavvarma007]

I have same question!

[@kamiliakureshi7462]

Me too. The circular rate is absurd no one sells withh this rate and the government is not selling land , so it is unjustifiable

[@bholanathkanodia2498]

Thanks for your useful video.my query is Ihave an ancestral property of late father and late cousin brother purchased in 1951 in Kalyani city kolkata.I knew about this land in 2010 .I am sole legal heir.since 2010 I am.doing all legal methods for mutation by estate Manger but he did not transfer land in.my name.In 2017 I came to know that my ancestral land occupied by don't know who but a four storey building constructed and flats sold. Mt case in High Court is pending and nothing has been done and high court has not taken against the people who are criminals and also estate manager Kalyani.At current rate my land only value alone is Rs.1 crore .Day light robbery but I am.a victim of govt that how my land was sold as myself legal heir is alive. Heavy conspricy. I don't know court's verdict. If judgement is in my favour will I get my land with building with current value of land plus 4 storey house how the valuation will be determined and if I get the land value excluding building with flats sold. I sincerely request you to seriously consider my issue and your best advise fir which I.shall be highly obliged I.reqyest you of possible please send your email on this issue.My email no. [e-mail] I am.74 years old. Bholanathnath kanodia. In 1951 land was purchased by Rs.5000 and govt gave possession of land in.1992.between 1951 till 1992 total money paid Rs.10500.This is the cost of purchase. I shall be highly obliged if I get my ancestral land from criminals by support of estate manager. Sorry for trouble. Bholanath kanodia

[@user-jx2ku8ph1e]

My father left a flat without any will. This flat was purchased by my father in 25.8.86. We are 3 siblings of my father. By a court order the flat was divided equally amongst us. After that my brother and sister gifted that flat to me through a gift deed dt.23.2.2018, as per the verbal wishes of our late father. At that stage on 9.10.2017 I got the flat valued at rs.51 lakhs . I did improvement on that flat by changing the location of bathrooms, kitchen, creating new store and handwashing area and totally new wiring, flooring, pop work for ceiling, 4 ACs , grills and painting of areas that were newly created. My question is what all items can I include for the capital gains Tax in the improvement of the apartment which I intend to sell. Kindly reply

[@chandradeepakdange7722]

Sir I have sold the residential plot of RS. 1000000 on 15 th March. This plot is in the name of me and my brother. Plo was purchased in the year 2020 of RS 100000. How to calculate capital gain and how to file in ITR.

[@EDU-MIND]

मेरे पिता जी ने जमीन 6 आने में 1960 में ली थी उसका वैल्यूएशन कैसे किया जाएगा

[@manojgupta6338]

My father buy a house property in 1996-97 on power of attorney and its got registered in 2004-05 .kindly confirm cost if index value will be applicable on 96-97 or 2004-05

[@priyojitdas]

Son inherited house property after death of father. Now where should i report this information in ITR-3. Report this particular house information report in Schedule HP in ITR-3. Is it necessary report the valuation of this house property in Schedule EI in ITR-3 as a exempted income. Please suggest me.

[@arjunratnadev]

arey Govt rate alag ha property ka aur market rate alag haa, jo market value ayega sale karne ke baad tou uska kya ha?

[@lokendrajadham9884]

I purchased a plot in 1983 for Rs.4800. Now I have sold it in April 2023 for Rs 1428000. Kindly let me know what will be my capital gain.

[@subratachaudhuri7319]

An old man with low income ( non-taxable) has sold inherited property in 2022 and his income has become taxable in FY 2022-23. Whether he will have to pay tax on slab rate or at 20% of LTCG due to property sale?

[@ashagupta5495]

If i inherit a res.property with my wife and son from my vfather 37 yrs ago in bthe vration of 50 25 anf 25 , now i sell it, Will there be long term capital gain to all three seperately, and all shall be entitled to invest in section 54 c seperstely and purchsde 3 res propertied seperstely and avsil exemption seprrately.

[@charansingh-hy5us]

I have a ancestral house in Delhi village. My father constructed this house on anestral land in 1954 .I want to sale this house 460 sq yard .The sale value is approx Rs 90 lac.What is property gain tax.If I purchase aflat what is the procedure to adjust this amount

[@dbslo17]

For selling of ancesstral property in the lal dora and there is no registry in registrar office, then the amount deposited in the bank through the cheque is taxable or not. If yes, then the total amount received through the cheque will be treated as taxable. Please confirm this point.

[@devpa254]

Sir, I inherited a property bought in 1970 at Rd 15000. I got it in 2013. If I sell it today, till how much amount I will be exerted capital gains. .

[@devpa254]

Excellent. Thanks..

[@hariomsharma9935]

Sir, I have a residential house in my village which is my ancestor's property in Delhi. It is about 70 years old & which is from my forefathers. No one purchased it ever. Now I have sold it. Is there any tax liability on me. Please clarify.

[@parthadebdatta6650]

Half cooked information ! How to find out acquisition cost or FMV of Gold Jwelleries received by gift? No bill voucher is there and the gift was made after 2001

[@shivammishra-wl4bq]

sir property 1990 ki hein toh?

[@alisha8807]

What if I'm selling the said ancestral land at no profit? Do I still need to pay tax?

[@sameerhusain6585]

But children got the property in 2018. Then why cost of Acquisition is calculated for ,2012

[@yashpalmakker5417]

How to calculate the property of constructed area if that property has 2500 square feet or 232.34 square metres how to calculate the value of construction on 2001

[@surajitkundu3784]

I got a land in 2005 from my father . In the register deed dalil it is mention the land value is 240000 . Can i use that amount as fair market value to calculate capital gain tax. Please reply.

[@dhavaltank7255]

Thank u... very nice

[@manindermann8164]

Suggestion made a video on a property sold plot commercial and i bought a residential plot for the entire amount. Is property tax the zero inheritance? what period/ years i should not sell to avoid property gain tax exempted in resi investment

[@mohitgangele5528]

Thanks for update Sir

[@depak53]

Clear thinking, clear explanations, good

[@robinghosh8397]

Sir, how about the property is inherited by 3 generations?? How can you calculate cost of such property??

[@pawangupta3324]

If a plot is agri on 1.4.2001 and becomes residential after few years than how to calculate

[@ramanbhatia3369]

In case property is alloted by government (eg. In 2015) and at time of selling (eg. In 2021), what will be the acquisition cost ?

[@dilipkumarbattacharya9377]

Ancestral property was purchased in 1942-43, but no purchase value available. During partition in 2018 set forth value was 70000. What will be fair market price on 01/04/2001.

[@krk5453]

इतनी महत्वपूर्ण जानकारी के लिए बहुत बहुत धन्यवाद 🙏 सर एक प्रश्न का समाधान चाहता हूं.. क्या हाउस प्रॉपर्टी की सेल से हुए LTCG को बेटे के लिऐ हाउस प्रॉपर्टी खरीदने में इन्वेस्ट करके LTCG टैक्स exemption क्लेम कर सकते हैं..? 🙏

[@kuldeepsingh9652]

Sir, please give information about is it permissible to purchase a new residential house in the name of daughter to get exemption under 54F.

[@hadadareprabhakar51]

If a person got property in 1984 by a will by other person not related if legate sold it in the year 2024 Residential property is it necessary to pay capital gain

[@Ramesh-vz1xf]

25 year purani hamari property ko sale karne par LTC GAIN KAISE calculate kare? Please margdarshan dijiye. Please🙏🙏

[@TaxPundit]

इस वीडियो में यही explain किया है। फिर से देखिए।

[@devapatel5979]

कोई जमीन मुझे पूर्वज से मिली है कभी खरीदी नही गई उसको मेने 2016 बेचा गया अब वेल्यू एक्वजिसन करने के लिए किस वर्ष की मार्केट वैल्यू देखना होगा ? और क्या बेस ईयर २००० मान सकते है नही तो किस वर्ष की मार्किट वैल्यू से उसकी कॉस्ट एक्वजिसन कैलकुलेट की जाए ???

[@ranabasu9607]

Thanks for the detailed review. Sir, a parcel of land on which there are 3 pucca shops and which belonged to my late maternal grandfather is being sold by my two maternal uncles. The plot was purchased in early 1970s. This is in a remote village under the Panchayat. The sale proceeds will be equally divided between my two maternal uncles and I will get my late mother's share. The per person receipt will be approximately Rs. 5 lakh. Will this income of Rs. 5 lakh (received by me) attract Capital Gains Tax?

[@prabhakarparekh7411]

Meri ancestors property 1942 Mai Liya tha not aware kitne Mai Ab hum usko 661000/- Mai sale karte hai usme bhi Mai aur Mera cousin involved hai jo 50%each hai Lekin old document sirf mere pass hi hai aur property sirf mere Nam hai payment aa ne se Mai usko 50% share RTGS se de deta hu to muje property tax lagega kya ?

[@krishnakantpatel7991]

My father died before so many years ago and we mutually distribute all my father's property and a shop came in my part and i sold out it in the same financial year so can i take the way of long term capital gain ?

[@nitishkoduru2636]

Hi sir, you are doing a great job. I really appreciate your efforts to make knowledge accessible to comman man for free. I have questions regarding capital gains aquired due to relinquishment of rights. Lets say my sibling is o.k to relinquish his 45 % right in an ancestral property for certain amount (say 35 lakhs) through a relinquishment deed. I would be transfereing money through bank. It a very old property. Does he has topay tax on that transaction. Does it come under long term capital gain ( flat 20% tax)?. I know he has some ways to claim for exemption.

[@TaxPundit]

Thanks for the kind words. Share our video to your social network and stay tuned for more videos. Yes. Taxed as capital gains.

[@rahulpatil3898]

Dont know if you have done the deal already but if not then try this...give him amount according to circle rate...for eg if circle rate is 10 lakhs..then give him 10 lakhs and so he will have to pay tax on tht 10 lakh only...other remaining money of 25 lakhs you can give him as gift as you are brothers so no need of tax

[@PankajSharma-gs2xc]

good

[@sureshchand6711]

Circle rate in 2001. for faridabad sec 45 not available. Pl help to circulate.

[@RajatKapoor-c1s]

Sir, I am a person of Indian origin born in India who is now American citizen. I inherited grand father's property and sold it. Do I need to pay capital gains tax and file tax return?