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  • News From Press Short-term capital gains are taxable at income tax slab rates in the year of sale

    Short-term capital gains are taxable at income tax slab rates in the year of sale

    Source: Mint Sep 26, 2017

    How is inherited property taxed? I got a house from my parents and want to sell to a builder for redevelopment. 

    —Piyali Seth

    The inheritance of the property itself is not taxable in either the hands of your parents or you.

    The sale of an inherited property shall be taxable as capital gains in your hands. 

    Depending on the period of holding of the property by you (including your parents from whom you have inherited the property), the resultant gains are taxed either as long-term capital gains (LTCG) or short-term capital gains (STCG).

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