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Cost of acquisition

Himanshu Agarwal (Proprietor) (137 Points)

17 March 2021  
Dear All,
In case of property inherited through Will
in FY 2008 AND the Original purchase of property is before 2001
so for calculating Cost of Acquisition,whether CII of FY 2008 i.e when it was inherited or CII OF 2001.
what would we take?

 4 Replies

Sourav (Student) (23912 Points)
Replied 17 March 2021

CII of 2001
1 Like

Replied 17 March 2021

Yes I agree with Mr. sourav

CA Sapna Ghelani (Chartered Accountant) (7530 Points)
Replied 18 March 2021

CII will be taken of year 2001.

Kapadia Pravin (17209 Points)
Replied 18 March 2021

2001 is base year so CII is 100 and value will be FMV

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