Taxation - Inherited house may involve taxation

Posted: 17 Jun 2011 07:17 PM PDT

I am the only child and have inherited a house, bought in 1985, from my father.Its current value is around `50 lakh.What will be the tax implications if I sell it next year? -- MRINAL GUPTA If you sell the inherited house before March 2012, the period of holding of the house shall include the period for which your father had held it and, therefore, the property would qualify as a long-term...

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