capital gain
This query is : Resolved
CA.Fakhruddin
(Querist)
26 June 2010
hello experts
My query is that if some one has aquired property in 1984 with the cost of 50000/- and get it registerd in 1997 with mv of 250000/- and the same property transfer in 2010 so plz let me know wht should b the cost of acquisition for calculating capital gain ?
waiting for answer.............
My query is that if some one has aquired property in 1984 with the cost of 50000/- and get it registerd in 1997 with mv of 250000/- and the same property transfer in 2010 so plz let me know wht should b the cost of acquisition for calculating capital gain ?
waiting for answer.............
26 June 2010
Since the property is acquired after 1984 you have to take the actual cost price and then apply indexation to the cost u/s 48 of the income tax Act.
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