Query about capital gain
This query is : Resolved
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.
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.
16 August 2016
Yes, son can replace the cost to the previous owner. So also the period of holding.
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
- ITR-3 - How to show loss in 65(i) - (iii) under under Part A - P & L section and sub section 65?
- EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F
- Refund of Rs.4,00,000/- pursuant to Appeal Order – Deceased Proprietor & Closed Bank Account
- Filling ITR for FY 2024-25
- Rebate U/S 87A on Short Term Capital Gain on Sale Of Property .
- Stop filling ITR
- RCM PAYMENT OF APRIL 2025 NOT PAID IN YEAR AND NOW PAYING IN OCTOBER 2026 RETURN
- REGARDING TURNOVER LIMIT
- GST applicability on Shipping charges
- Interest Reporting in Form 168
- Composite medical service contract
- New old regime
- Experienced CA recommendation from Kolkata for FNO return filing
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
