Capital Gain Tax of inherited Flat

My husband bought a Flat in FY 2010-11 at 1767000 INR. After his demise as intestate, The court has granted us the legal heirship certificate under Bombay regulation act. The flat details is mentioned in the certificate. For whole procedure we have to pay 75K as stamp duty, 44K as lawyer fee and newspaper article 12200 ( 75000 + 44000 + 12200 = 131200). As per hindu Succession law Me and my son has 50-50 percent ownership on the flat. In FY 23-24 we sell the flat at 4350000 including the broker fee of 87000. Please elaborate on my capital gain tax and the expense that I can Consider to reduce the LTCG?

Hey @sangeetajainart,

The capital gains from the sale of house property will be taxed at 20%. However, you can claim indexation benefits on the same.

Moreover, you can claim the expenses incurred as transfer expenses. If you want one of our tax experts to calculate the exact tax liability, you can book a MEET using the below link.