Dear All,
My mother purchased a flat in October.12 for Rs.3,20,000/- ( Stamp valuation Rs.18,00,000/-), then she gifted me the same in March.13. Now I sold the flat in November.20 for Rs.17,00,000/- ( Stamp valuation Rs.22,00,000/-). In this case what is my sell value, cost of acquisition & capital gain amount.
Thank You
SANTANU
As the property is govt. subsidised the cost price is low, similar project in same area is Rs.12,00,000/- aprox thats why figure is very high.
But the question is what is the cost of aquisition is it Rs.3,20,000/- or Rs.18,00,000/- ?
As it is Govt Subsidised, cost will be 320000/-
CAclubindia
