Query about capital gain
This query is : Resolved
vipin minocha
(Querist)
16 August 2016
A FATHER PURCHASED HOUSE PROPERTY IN THE YEAR 2000 FOR A SUM OF RS.78000/- , GIFTED THE SAME TO HIS SON IN THE YEAR 2014 WHO SOLD THE SAME IN THE YEAR 2015 FOR RS.18,00,000/- WHETHER THE COST BENEFIT AS WELL AS COST INDEX BENEFIT SHALL BE GIVEN TO HIS SON FOR CALCULATION OF CAPITAL GAIN TAX.
CA R SEETHARAMAN
(Expert)
16 August 2016
Yes indexation benefit from the year 2000 and cost of Rs. 78000 will be considered for working out capital gain to his son.
Amol S Joglekar
(Expert)
16 August 2016
Yes, son can replace the cost to the previous owner. So also the period of holding.
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