Capital gain
This query is : Resolved
Snehal Tayshete
(Querist)
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.?
CA R SEETHARAMAN
(Expert)
26 December 2014
Indexation to be calculated from 1992.
CA Kumar Mukesh
(Expert)
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
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