Capital gain indexation

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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2012 Dear sir, if a land is purchased on installment basis, which are paid from the year 1992 to 2002. Possession is acquired in 2002.now please tell me that how we will calculate cost of acquisition. Will all the instalment paid upto 2002 considered to calculate cost of acquisition .

Amol S Joglekar

Amol S Joglekar (Expert)
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13 September 2012 The agreement to sale / conveyance deed as the case may be, is the starting point. If the title in the property is passed on in the year 2002, the entire installments paid shall be regarded as COST.

Querist : Anonymous

Querist : Anonymous (Querist)

14 September 2012 Thank you sir for your reply.....
One more question...... How to calculate indexed cost of acquisition in above question.ie which year should be taken as base for calculation of indexed cost.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 September 2012 If the title is passed in the year 2002, then there is no question of taking the cognisance of the installments. If title is passed in the year 1992, then yearwise installments will have yearwise indexation.

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2012 If title is passed in 2002 then indexation will be done taking 2002 as base. Am I right?

Amol S Joglekar

Amol S Joglekar (Expert)
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15 September 2012 Absolutely correct.

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2012 Thank you sir for your valuable advise.

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