15 March 2014
one of my client received ancestral property under partition on 15th Dec 2012 as per record of rights.
Assessee sold the same property on 10th March 2013.
1. Whether it is a short term capital gain or long term capital gain
2. How to take the cost of acquisition.
3. cost of the previous owner is 100 years old property.
4. whether to take value as on 1 4 1981
5. Whether cost Index is applicable
6. How to calculate profit on sale of the property. Please clarify
3. value of the previous owner
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