Dear All,
I have any querry about CG computation.
Suppose A and B are co owner of house property purchased in 2006. Now in 2012 A released 50% property share from B for consideration. In the same year A sales entire property to Y. Now
1} Weather entire property is chargeable to LTCG OR
2) 50% will charged to LTCG and 50% released share will charged to STCG.
Please refer case law if any.
(1) only 50% of Mr. A will be LTCG
(2) yes you are correct
CoA---
For 50% share of Mr.A will be calculated by using CII for the year 2006 and for the co-owner right it will be 2012
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