Capital gain
This query is : Resolved
20 March 2012
I WISH TO KNOW WHAT WOULD BE THE COST OF ACQUISITION FOR THE PROPERTY WHICH GOT BY GIFT FOR EXAMPLE
IF I RECEIVED A GIFT OF RESIDENTIAL PROPERTY IN THE YEAR 2009 AND SAME IS SOLD IN 2010-11 FOR RS 1200000/-, SO WHILE CALCULATING THE CAPITAL GAIN WHAT IS THE COST OF ACQUISTION FOR CALCULATING THE CAPITAL GAIN
KINDLY GIVE ME THE RULE AND SECTION
IF I RECEIVED A GIFT OF RESIDENTIAL PROPERTY IN THE YEAR 2009 AND SAME IS SOLD IN 2010-11 FOR RS 1200000/-, SO WHILE CALCULATING THE CAPITAL GAIN WHAT IS THE COST OF ACQUISTION FOR CALCULATING THE CAPITAL GAIN
KINDLY GIVE ME THE RULE AND SECTION
20 March 2012
COST TO PREVIOUS OWNER THAT IS THE PERSON MAKING THE GIFT WILL B UR COST SEE SECTUION 49
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
20 March 2012
Dear Raghvan ,
U/Sec 49(1) , IF ANY PROPERTY IS ACQUIRED UNDER GIFT , COST TO THE PREVIOUS OWNER IS DEEMED TO BE THE COST OF ACQUISITION TO THE ASSESSEE .......
U/Sec 49(1) , IF ANY PROPERTY IS ACQUIRED UNDER GIFT , COST TO THE PREVIOUS OWNER IS DEEMED TO BE THE COST OF ACQUISITION TO THE ASSESSEE .......
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