Question ID : 1239

CAPITAL GAIN

MR X PURCHASE A HOUSE PROPERTY 1978 FOR RS. 00,-(VALUE OF 1981 RS, 100000,-) MR X DIED ON 1989 AND PROPERTY HAS TRANSFERED TO HIS THREE SONS MR A, MR B AND MR C. 1995 MR C DIED AND PROPERTY TRANSFER TO MR A AND MR B (M V OF PROPERTY 000,-) 2001 MR B DIED AND PROPERTY TRANSFER TO MR Bs SONS (MR O AND MR. P)(M V OF PROPERTY 1000000,-). NOW MR A AND MR O AND P SELL THIS PROPERTY RS, 1000,-. WHAT WILL THE THE TAX IMPLICATION AND PROCEDURE OF TAX CALCUTION. '

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