Capital gains

Hi Suja,

For selling the property she is supposed to have the deed or any will of the property. if so, from such document she can get the original title deed from the jurisdictional Sub Registrar office.

As it seems to be a long term capital asset, the indexed cost of acquisition shall be calculated for computing capital gain and tax.

Thanks

CA Gokul Raj

Sir,

thank you for your reply.one clarification.pl let me know what will be the purchase value. whether will it be the value brought by her father or the market value at the time she recd the will.

thanks

sujatha

Cost of acquisition of the property shall be the cost which incurred by the previous owner in case of the property is acquired by gift or will. hence in your case, the cost of the property shall be the cost incurred by her father only.

Thanks

CA Gokul Raj