Cost of acquisition

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2012 The assessee sold a piece of land which was gifted by her mother. This piece of land was actually purchased for 45000 in the year 1994-95by assessees father. Later in 2001-02 was registered in the mother's name for 80000/-. this land was gifted to the daughter through a registered gift deed in 2011-12. What will be the cost to the assessee for computing Long term capital gain 45000 or 80000?
Please help!

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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12 July 2012 The cost of acquisition shall be Rs. 45,000. Further indexation will also be applied for the year 1994-95

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