Capital gains
This query is : Resolved
Fazil Ahmad
(Querist)
22 October 2011
If Cost of Improvement is done in case of 49(1) before acquiring the Capital Asset from the transfer-or , whether we can claim it as a deduction while computing capital gain?
CA RICHA BADALIA
(Expert)
22 October 2011
Yes, he can claim deduction of cost of improvement of previous owner provided it is incurred on and after 1/4/1981.
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Fazil Ahmad
(Querist)
23 October 2011
And is sec 10(38) applicable to buyback of shares u/s 46(A)?
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