28 July 2018
Ex : Mr. X purchased property 1984-85 at Rs. 100000 subsequently, incurred cost of improvement Rs, 500000 and settled in favour of his son Mr. Y in 2001-02 and paid fix stamp duty since it was family settlement and sub registrar adopted rate for registration of settlement deed Rs. 200000 after depreciation of property. Susequently, in the FY 2010-11 it was sold for Rs. 50,00,000/- pl let me know what will be the cost of acquisition for his son Y with indexation. Office has adopted Rs. 200000/- cost acuisition, ignoring family settlement and cost on which property acquired in 1984-85 by Mr. X
30 July 2018
Incometax Ofice has taken 200000 as per regn value and CIT Appeal also agreed for 2 lakhs. Further pl let me know Which cost should be taken for indexation
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