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Cost of acquisition

Tax queries 399 views 2 replies

In case a person "A" has 2 brothers, and his father dies, leaving behind a property (Plot) and then A pays of his brothers to acquire their share in the property and becomes the owner of the plot.

Now A wants to sell this property, how will the cost of acquisition be calculated?
Can A include both the cost paid to brothers for their share and the cost to previous owner while calculating the cost of acquisition?

Replies (2)

Previous Owner Proportionate cost attributable to A.Amount paid to both Brothers will form part of COA.However indeaxation will be for different years

HELLO FRIEND ....

CAPITAL GAIN WILL BE CALCULATED AS MENTION BELLOW :- FOR A 

AS THERE ARE TOTAL 3 SONS (ASSUME , A B C ) OF THE  ORIGINAL OWNER 

 

             SALE = XXX

LESS:-  COA= XXX (A's share taken from father)(indextation from the date of purchase by father)

LESS:- COA = XXX (B's share taken by A) (indextation from the date of purchase from B)

LESS:- COA = XXX (C's share taken by A) (indextation from the date of purchase from C)

 

 

THANKS

 

SHIKHAR 

 


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