Index cost of acquisition
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2014
If i made payment against purchases of any property in few installments which will be pay in next say 4 years ,then whether inflation index applies for that year payment separately or on the basic purchase cost as per agreement directly.
F.Y 04-05 purchase cost 100000/- (agreed cost)
Payt made F.Y 05-06-50000/-
F Y 06-07 50000/-
Then what will be the appropriate treatment
1)Directly 100000*sale year index/pur ye
index or
2) 50000*SYI*05-06 pur index
50000*SYI*06-07 pur index separately
F.Y 04-05 purchase cost 100000/- (agreed cost)
Payt made F.Y 05-06-50000/-
F Y 06-07 50000/-
Then what will be the appropriate treatment
1)Directly 100000*sale year index/pur ye
index or
2) 50000*SYI*05-06 pur index
50000*SYI*06-07 pur index separately
02 July 2014
I think option 1 is correct. However please be wait for other experts clarification.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
02 October 2021
Directly 100000*sale year index/purchase year........... Purchase year will be date of possession received.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- U/s.234E late fee- balated filing the TDS returns
- Traces Portal
- Capital Gain Incidents
- Applicability of corporate governance provisions as per the SEBI LODR
- Cheque bounce intimation letter
- Form 121 of income tax
- Minor - PPF Rules Doubt
- REVERSAL PROPORTIONATE ITC
- Transfer of shares from joint holders Demat to individual Demat accounts
- RCM AND NORMAL TAX INVOICE
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
