how will i get indexation

hi

Mr. X inherited a property(shop) in 1982 , but he got only 1/6th share in that property at that time becoz there were  five brothers of x also.

but in 2007,some how 4 brothers agreed to surrender their share in the name of two brothers ,

hence ,as of now, mr. X is having 50% right in that property.

how he will get the benefit of indexation?

and will he get any deduction if he paid (in cash) for the acquisition of 50% share?

Replies (5)
U find the entire purchase price then divede by 6 so firstly indexation will be on 1/6 part then on 2/6 part when u got the right the latter will be at cost of cash paid

Dear Abhishek,  has Mr.X sold the property for attracting Capital Gain on the same?

yes sir,its absolutely for capital gain

Dear Abhishek,

I think in the present case the brothers who have surrendered their share in favour of remaining Bropthers is by way of "GIFT"

So, Indexation will be done from the date the asset was purchased by the previous owner (I:e FATHER)

Explanation to Sec 49(1) -In this sub-section the expression “previous owner of the property” in relation to any capital asset owned by an assessee means the last previous owner of the capital asset who acquired it by a mode of acquisition other than that referred to in clause (i) or clause (ii) or clause (iii) 4[or clause (iv)] of this 5[sub-section].

Amir is absolutely right.. 

You can get indexation from the date of purchase of asset by father.

n Also he cannot get deduction of payment made to brothers. If he avails the benefit of the same, it will not be regarded as gift n computation will change accordingly.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 November 2026
Manager - Indirect Tax (GST)

Westbridge Consulting LLP

New Delhi

CA

View Details
Company
10 November 2026
FP&A Executive

Gujarat Guardian

Ankleshwar

CA Final

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details