Capital Gains tax EC54
This query is : Resolved
04 January 2021
Have purchased an apartment in Dec 2010 registered the property in 2010 but got possession in Aug 2013. For calculating capital gain tax we should refer to the index of the year 2010-2011 or 2013-2014. This is for investing in 54EC to get a Capital gain Tax advantage.
Can you please help clear this confusion?
Can you please help clear this confusion?
Rahul varshney
(Expert)
04 January 2021
Cost inflation index must be applied from the date when the asset was “first held by the taxpayer”, says Section 48.
Accordingly, indexation shall be applicable from the year of the agreement.
Accordingly, indexation shall be applicable from the year of the agreement.
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