Capital gain


(Guest)

 

If jewellery is sold by an individual in FY 2010-11 which he received from his mother on family settlement in FY 2008-09. Originally this jewellery was received by his mother from his maternal grand mother in FY 1970-71.

 

As per section 49 cost of acquisition is the cost to the previous owner. And as per section 48 indexation will be applicable from the year in which the asset was first held (acquired) by the assessee.?????????????????????????