S. Sri Ramya (LAW STUDENT) 11 June 2019

sale of ancestral property without partition

hello, can we sell ancestral land with consent of all share holders without doing partition. we want to sell one ancestral property immediately can we do it without waiting for partition. on whom tax liability would be levied ?

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4 Replies

SHIRISH PAWAR, 7738990900 (Advocate) 11 June 2019

As per me you can sale your potion of ancestral land with out other's consent. Stamp duty will be applicable as per your state's policy.

Shashi Dhara 11 June 2019

U can sell but for prevention all consent shud be taken for future consequences of buyer.

S. Sri Ramya (LAW STUDENT) 11 June 2019

we are taking consent of all share holders,who has to take up tax liability ? only single person. or all the share holders ?

kavksatyanarayana (subregistrar/supdt.(retired)) 11 June 2019

Dear querist, to me, all the legal heirs of the ancestral property shall sale the same to a buyer. If you want to sale your share you can do it. But for enttire property, all the other legal heirs shall relinquish their right in favour of you or give you POA. For tax purpose which tax? either Income Tax or Stamp duty?