https://www.taxtmi.com/forum/issue?id=1531 Inheritance of an immovable property does not constitute a transfer for capital gains at the time of the decedent's death; on sale, each heir is taxable individually on their share. Where acquisition predates an earlier reference date, heirs may elect a reference valuation and apply indexation to compute indexed cost. If the property is HUF property or if there are family settlements, gifts, or inter se arrangements, the tax incidence may differ and may render the HUF or beneficiaries taxable depending on ownership substance. en-us Thu, 01 Oct 2009 16:47:32 +0530 Tue, 13 Oct 2009 18:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1531 Inheritance of an immovable property does not constitute a transfer for capital gains at the time of the decedent's death; on sale, each heir is taxable individually on their share. Where acquisition predates an earlier reference date, heirs may elect a reference valuation and apply indexation to compute indexed cost. If the property is HUF property or if there are family settlements, gifts, or inter se arrangements, the tax incidence may differ and may render the HUF or beneficiaries taxable depending on ownership substance. Discussion-Forum Income Tax Thu, 01 Oct 2009 16:47:32 +0530 https://www.taxtmi.com/forum/issue?id=1531