Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 March 2014
While calculating capital gain tax ,in case of land belongs to wife of value RS 35000 in the AY 2007-08.
received by husband for a consideration of RS 9000 in AY 2009-2010.
Land was sold for RS 500000 in the AY 2013-
14.
Now what is the Cost of acquisition of such land
received by husband for a consideration of RS 9000 in AY 2009-2010.
Land was sold for RS 500000 in the AY 2013-
14.
Now what is the Cost of acquisition of such land
17 March 2014
in my view, the cost of acquisition should be Rs 9000 as the said asset was not gifted or inherited but transferred for a consideration ie 9000.
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