| Question And Answer | |
|---|---|
| Subject: | legal heirs vs aop |
| Category: | Income-Tax |
| Querist: | bs |
| Answered by: | Research Team |
| Tags: | APO, Co owners |
| Date: | April 1, 2023 |
1] c0-legal heirs offered rent income as AOPÂ for years
2] can LTCG be later taxed in individual hands of legal heirs since buyer reuses to buy property from AOP?
Depends upon the facts. Whether Probate is obtained or is there any dispute as regards share to be divided etc . If the shares are specified the property can be sold by the individuals as co-owners.
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org