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Capital gains

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(Querist)
25 October 2012 Whether long term capital asset eligible for indexation even if improvement in asset is done within the period of 36 months or before the date of transfer? Any decesion of Court of law or IT Department is avaliable on this?
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Amol S Joglekar

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Amol S Joglekar (Expert)
25 October 2012 once the asset is classified as LONG TERM, the cost of improvement although falling within the SHORT TERM kind of period, qualifies for indexation. The first step is to classify the asset.
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