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Inherit Today, Sell Tomorrow, Still Keep Away Tax Sorrow!

ITAT Special Bench Grants Unique Tax Shelter For Capital Gains On Gifted & Inherited Assets! If your grandfather had acquired a plot of land for Rs.10 lakhs in late 1981, which you receive by way of inheritance on his death now in 2009 and you are planning to sell the same in early 2010 for a consideration of Rs.63 lakhs, what would be the income-tax you would be required to pay on your capital gains? Difficult...

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