Indexation when property is settled through irrecovable deed
This query is : Resolved
sai krishna
(Querist)
20 October 2014
A property has been actually bought by a person in 1980. He transferred to his son in 2012 by an irrevocable deed of settlement. The property is being sold in 2014 by the son. from when can the son enjoy indexation benefit from 1980 (or) 2012 ?
20 October 2014
From 1981 since it is d base year.. cii for 1981 is 100 and for 13-14 it is 939
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sai krishna
(Querist)
20 October 2014
Thank You Sir. Can i get any section reference for this answer.It will be useful for me
sai krishna
(Querist)
20 October 2014
Thank You Sir. Can i get any section reference for this answer.It will be useful for me
Nikhil Kaushik
(Expert)
20 October 2014
refer https://taxguru.in/income-tax-case-laws/case-gifted-assets-index-year-acquired-previous-owner.html
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