letter of administration
R_PVK
(Querist) 04 June 2010
This query is : Open
Dear Sir
My mother had acquired two row houses of her brothers asset and lettervof administration is been issued thru madras high court . now the problem is that she is very old nearing 80 and she wants to nominate me as her only son for the assets to be distributed since if she sells it now it can capture hightax capital gain but when we enquire our lawyer what he says is that with the letter of administration what she got she cannot nominate her children but she can sell it off by with holding for more that three years for gaining low tax capital gain. Sir pl advice in this regard since i am totally confused
regards
R_PVK
