capital gain

IPCC 91 views 3 replies

Rekha Gaikwad

44 Points Joined August 2018

sec 47 transaction is not regarded as transfer. Fir sec 49 me cost of acquisition kyu calculate karte? sec 47 pe toh capital gain nhi aata toh uski cost kyu nikalte,???

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Transactions Not regarded as 'Transfer' [Section-47] for Computing Capital Gain. Under Section 47, the following transactions are not regarded as transfers. Hence any gain arising from such transactions is also not taxable under the head 'Capital Gains'.

If indexation is linked to the period of holding the asset and in the case of an assessee covered under section 49(1) of the Act, the period of holding the asset has to be determined by indicating the period for which the said asset was held by the previous owner, then obviously in arriving at the indexation, the first