Dear All
Please clarify in case, where the gifted asset is transferred than from when the indexation is done. That is from the date of acquisition of previous owner or from the date of gift to the current owner. (as per provision applicable for May 2010 exam of ICAI)
Thanks in Advance
Arpit Sharma
indexation::from the year in which capital asset was first held by the asseessee.
For determining LTCG/STCG::DATE FROM WHICH THE ASSET WAS PURCHASED BY PREVIOUS OWNER TO ASSEESSEE..
Hi Arpit,
the Benefit of indexation will be get by current owner from when he received from previous owner not from when previous owner has purchased. but cost and Period of Holding will be taken from when previous owner has purchased.
CAclubindia
