Very urgent
This query is : Resolved
21 October 2009
CALCULATION OF COST OF INDEXATION:
1.Should i calculate the COI in the year in which asset transfered in my name?
2. Should i calculate in the yearly indexation to the amount paid?
3.If the asset is transfered on my name on the payment of advance in the 1st yr itself should i consider COI in the year in which advance payment is made?
1.Should i calculate the COI in the year in which asset transfered in my name?
2. Should i calculate in the yearly indexation to the amount paid?
3.If the asset is transfered on my name on the payment of advance in the 1st yr itself should i consider COI in the year in which advance payment is made?
21 October 2009
You need to take the COI for the year in which asset is transferred in your name.
There is no need to take the yearly COI to amount paid. Also note advance payment does not matter for the purpose of COI calculation.
For calculation of COI we need to see the legal ownership of the asset & date on which such asset transferred to assessee.
There is no need to take the yearly COI to amount paid. Also note advance payment does not matter for the purpose of COI calculation.
For calculation of COI we need to see the legal ownership of the asset & date on which such asset transferred to assessee.
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