Capital gain
This query is : Resolved
Guest
Guest
(Querist)
27 October 2012
ONE LAND RECIEVED BY DONATION FROM HIS BROTHER (RS 29000.00) ON DATED 24.1.2012 NOW I AM SALE OF THIS LAND HOW TO COMPUTE CAPITAL GAIN
SANJEEV AGARWAL
UTTARAKHAND
SANJEEV AGARWAL
UTTARAKHAND
CA PARAS BAFNA
(Expert)
28 October 2012
Cost of Previous owner and period of holding
by the (previous owner+Current Owner) will be taken into account for computing the indexed cost/cost of acquisition of the capital asset.
.
You have mentioned the cost as 29000/-.
Had the Asset been purchased before more than 3 years from the date , when you sale, indexation benefit will be available. By indexation your cost will be shown at a higher level thereby reducing the amount of capital gains.
.
by the (previous owner+Current Owner) will be taken into account for computing the indexed cost/cost of acquisition of the capital asset.
.
You have mentioned the cost as 29000/-.
Had the Asset been purchased before more than 3 years from the date , when you sale, indexation benefit will be available. By indexation your cost will be shown at a higher level thereby reducing the amount of capital gains.
.
Adv. R. B. Munot
(Expert)
30 October 2012
I agree with Mr. Paras.
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