IF A PROPERTY IS INHERITED BY AN ASSESSEE ON 2005 FROM HIS FATHER WHERE IT IS PURCHASED BEFORE 1981 DOES THE INDEXATION SHALL BE CALCULATED ON F.M.V ON 1981 OR COST TO THE PREVIOUS OWNER ?(i.e from his father)
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Indexation
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Indexation from 2005
COA for the son = cost to father or fmv on 1981.
Holding period (to decide long term or short term) includes the holding period of father.
Indexation from 2005
COA for the son = cost to father or fmv on 1981.
Holding period (to decide long term or short term) includes the holding period of father.
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