Income Tax

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This discussion clarifies the property acquisition date for Capital Gains Tax when a property is transferred multiple times via settlement deeds. The key is determining the original purchase date for tax purposes, even after several family transfers. The query also seeks relevant case law to support the calculation.

S.Jegadeesan

S.Jegadeesan (Querist)
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20 September 2020 What will be the date of acquisition of the property for calculating the Capital Gain in the following situation?

Mr. Kumar purchased the property on 05.06.1986 & then he has transferred through settlement to his son Mr. Krishna on 05/11/2002 thereafter Mr. Krishna transfer the property by settlement deed on 18.03.2018 to his daughter Divya . Now the property has been sold by Divya on 18.11.2019.