Capital Gain Calculation on Inherited Property
This query is : Resolved
21 August 2020
How Capital Gains calculations is done when a property is inherited after Fathers death and the same has been sold in the current year ?
Scenario : The Property belongs to A and is passed on lawfully to B who is A' s Son in the year 2014. B dies in the year 2015 and the same property has now been passed on to B's Son C (being the legal heir). In this case how will capital gains be calculated as there is a transfer of two times and how cost of indexation be applied as there are two transfers would be taken from the date of transfer or form the initial period ?
Scenario : The Property belongs to A and is passed on lawfully to B who is A' s Son in the year 2014. B dies in the year 2015 and the same property has now been passed on to B's Son C (being the legal heir). In this case how will capital gains be calculated as there is a transfer of two times and how cost of indexation be applied as there are two transfers would be taken from the date of transfer or form the initial period ?
22 August 2020
COST OF ACQUISITION WILL TAKEN AS COST TO PREVIOUS OWNER I.E. COST TO MR. A
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