Dear Members,
I have one query related to capital gains..
1. can we compute the capital gain tax without Indexation method (which is flat @ 10 %) in case of property ( plot/ land ) selling ?
2. How to compute the base value of the property with Indexation method which is purchased in 1966, As I 'm able to find CII (Cost Inflation index )only starting from year 1981.
3. In one special case, Head of the family expires and his two sons , one daughter & wife claims to be joint owner of that property , and they sold the property then the Amount has been received jointly by selling the property . So to exempt the capital gains tax if the jointly received money is re-invested in purchasing any property (house/flat) by one of the family members, Can other family members can also claims for capital gain tax exemption?
Regards,
Saurabh Goyal
CAclubindia
