Capital Gains
This query is : Resolved
17 April 2011
Respected Experts
In case where a plot of land has been acquired by a lady from her grand father & then sold befour completion of 36 months from transfer of such land from grandfather - in such a case can the grand fathers period of holding be considered for calculation of capital gains - STCG or LTCG
& if the cost in the hands of grand father is not avaulable then a valuation can be made on the date of sale or 01.04.1981 date
Thanks
Debashis Mandal
In case where a plot of land has been acquired by a lady from her grand father & then sold befour completion of 36 months from transfer of such land from grandfather - in such a case can the grand fathers period of holding be considered for calculation of capital gains - STCG or LTCG
& if the cost in the hands of grand father is not avaulable then a valuation can be made on the date of sale or 01.04.1981 date
Thanks
Debashis Mandal
17 April 2011
What i understand from ur query that the plot has been acquired by inheritance. In that case the period of holding will include the period for which lady's grandfather held the prop. Indexation woud be done from the year GF held the prop. FMV as on 1-4-1981 can be taken at a value determined by the App valuer
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
