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dear sir/madam , while calculating capital gains whether to take indexed cost of aquistion date as gift date that is Nov 2002 or the date on which friend acquired the land that is April 1990. in exam which date to take for indexed cost of aquistion ?
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Cost to previous owner. i.e. 1990 one. Also, Seeif its for property or indexation for improvement because in case of indexation for improvemt, its from the date assessee hold the property and not from date of acquision by previous owner.
Still wait for expert opinion. I am just a beginner.
If the property is gifted, the year of acquisition of the previous owner will be taken.
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