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Indexed cost if improvements!
If a capital asset have holding period for more than three years thn its cost of acquisition will be indexed as per provisions of section 55 but if thr r few improvement cost incurred in the said asset during the period of last three years prior to sale of the said asset will such cost of improvent will be allowable to indexation or not????
Replies (2)
Improvements made within 3 years before selling the capital asset will not get indexation.
It is the period of holding of capital asset to decide whtr the capital asset is long term or short term and accordingly indexation will be provided to cost of acquistion and cost of improvement, not the year in which cost of improvement is incurred.........
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