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Capital gain

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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
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CA PARAS BAFNA

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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.
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Adv. R. B. Munot

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Adv. R. B. Munot (Expert)
30 October 2012 I agree with Mr. Paras.
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