Buying is only one way of becoming owner of property. In India, people become owner of the property through WILL or Gift or as a right under Hindu Succession Act and other laws .In all these kinds of acquisition of ownership , one does not require to invest any money . Then , in most of the cases of family property , the property might be bought many many years ago ….may be 50 or even 60 or seventy years. So , when you as an owner sells such a property , you need to know a few legal points , which may , indeed provide you immense saving on capital gains tax . This article is going to provide you the tax planning tips on sale of such properties.