CAPITAL GAIN CASE STUDY

dear friend

according to me its the cost on the date of acquisition.because as per section 48 the date of acquisition is considered for computation of capital gain.

DEAR SIR

I M ASKING ABOUT  WHICH DATE SHOULD BE CONSIDERED

ALSO SHOULD INTEREST AMOUNT SHOULD BE CAPITALISED IN  ACQUISITION AMOUNT OR NOT

PLS REPLY SIR

dear friend

the date of acquisition is considered for indexation purpose. and yes dear interest will form part of cost of acquisition.

date of acquisition is the date on which u have purhcase the house.

Date of Purchase of house property is considered as Date of acquisition and interest is also forming as Part of cost.

All expenses which are related to acquire the capital asset form as the part of cost. 

thanks namrata.U MEAN TO  SAY DATE OF POSSESSION COMES TO THE CLIENT.

I ALSO THINK THAT.

SORRY TO YOU

I HAVE COME TO KNOW THAT FOR THIS CASE FOR EACH YEAR COST OF IMPROVEMENT  WILL BE FIND AND ACCUMULATE IT. AND THEN DEDUCT FROM SALE CONSIDERATION

I have similar case.  

i think we should apply indexation to each installment seperately and then cumulate it to arrive at COA.

can you please site a case law or some other reference?

I hv got recently judgement by ACIT jhunjhunu for similiar case and judgement

1.department deniied to take interest as cost

2.Cost of acquisition is the cost of assessee till the date of possession certificate acuired by the assessee.