Cost of acquisition for calculation of capital gain tax
This query is : Resolved
Debabrota Roy
(Querist)
29 April 2015
Dear Sir,
Please note that for calculation of capital gain tax what will be the cost of acquisition in case of property acquired by Father of a Grandfather,though here all are dead.Now their desendents want to sale their property(House Building).Which cost to be taken, cost to the immediate previous owner or before the previous owner who actually built the house and latter it was renovated by the desendents. Please reply.
Please note that for calculation of capital gain tax what will be the cost of acquisition in case of property acquired by Father of a Grandfather,though here all are dead.Now their desendents want to sale their property(House Building).Which cost to be taken, cost to the immediate previous owner or before the previous owner who actually built the house and latter it was renovated by the desendents. Please reply.
CA MANOJ GUPTA
(Expert)
29 April 2015
BY VIRTUE OF 49 COST WILL BE TKEN AS COA TO THAT PREVIOUS OWNER WHO ACTUALLY ACQUIRED THE PROPERTY.
CA MANOJ GUPTA
09828510543
CA MANOJ GUPTA
09828510543
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