indexation in case of charitable trust for capital gain
This query is : Resolved
11 November 2009
Can some body solve my following problem regarding capital gain in case of charitable trust.
Let assume
Sales Value of Assets 100
Less; Expense on sales 0
-----
100
Less Cost of acq. (Indexed cost) 55
-----
Long Term Capital Gain 45
Utilisation of New asset
(New asset purchased-old asset)
50(assumed)-25(assumed before indexation) 25
---------
Long term capital gain 20
--------
My problem is whether in calculation of utilisation OLD ASSET VALUE ALSO BE INDEXED OR NOT. GIVE REPLY WITH PROPER SUPPORTING
IT IS URGENT. WATING FOR REPLY
Let assume
Sales Value of Assets 100
Less; Expense on sales 0
-----
100
Less Cost of acq. (Indexed cost) 55
-----
Long Term Capital Gain 45
Utilisation of New asset
(New asset purchased-old asset)
50(assumed)-25(assumed before indexation) 25
---------
Long term capital gain 20
--------
My problem is whether in calculation of utilisation OLD ASSET VALUE ALSO BE INDEXED OR NOT. GIVE REPLY WITH PROPER SUPPORTING
IT IS URGENT. WATING FOR REPLY
CA Balram Sharma
(Expert)
11 November 2009
yes ,
because the cost of assest is subject to sec 48,
hence index cost wil be consider
because the cost of assest is subject to sec 48,
hence index cost wil be consider
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