Capital gain
This query is : Resolved
26 December 2014
Sir,
In 1992 Property purchased in 1992 by father in law den by inheritance trf to husband(son) and wife in 2010 den in 2013 husband died den to wife in 2013 so how to do capital gain working.in 2013 which year indexation will be taken.?
In 1992 Property purchased in 1992 by father in law den by inheritance trf to husband(son) and wife in 2010 den in 2013 husband died den to wife in 2013 so how to do capital gain working.in 2013 which year indexation will be taken.?
26 December 2014
Indexation to be calculated from 1992.
26 December 2014
Dear Snehal, as per section 47 capital asset received under gift, will or impenitence are not regarded as transfer under section 47
Further,under section 49(1) cost of acquisition for the transaction refereed to section 47 also include cost to previous owner.
Further Also, as per section 2(42A) period of holding referred to section 47 also include holding of previous owner also.
Therefore, You Need calculate indexed cost of acquisition from 1992
Further,under section 49(1) cost of acquisition for the transaction refereed to section 47 also include cost to previous owner.
Further Also, as per section 2(42A) period of holding referred to section 47 also include holding of previous owner also.
Therefore, You Need calculate indexed cost of acquisition from 1992
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
