Hi sir/Mam,
This is about holding period calculation for indexation,
Issue : Purchase agreement made in the year of 2005, registration made on 2007 and secondly while calculating purchase cost as per incometax act,1961 we should add the registration cost too.
In the above case i have few doubts , kindly let me know ,
1. Which year i should take as year of aquisition ?
2. If i will take as 2005 as year of aquisition, stampduty which was paid in 2007 year,to be added to the cost of purchase which was paid to seller in the year of 2005, and then i have to index for the total amount ? am i correct sir/mam?
Thanks in advance.
CAclubindia
