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?
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
CCI
Pro
CAclubindia
