Query on capital gain
This query is : Resolved
18 August 2011
if A gift a capital asset to friend B,
can B take the period of holding of A (previous owner) for both:
-determining LTCG/STCG
-indexation
can B take the period of holding of A (previous owner) for both:
-determining LTCG/STCG
-indexation
19 August 2011
Yes. Pl refer section 2(42A) explanation (i) clause (b) of the Income tax Act,1961.
19 August 2011
I agree with the expert but the provision of Section 53 should also be taken into consideration
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