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!
Please help!
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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