A father gifted a share of land to his daughter. For this A Gift deed was executed of Rs.806000/- in FY 2018-19.
Same was purchased by his father of Rs.357840/- in FY 2014-15.
Now which value to be considered for Indexation if there shall be a sale of above property in FY 2023-24?
Is it Rs. 806000/- (As per gift deed)
or Rs. 357840/- being the original price of the assets?
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Regarding Indexation of Gifted Property
Replies (2)
Rs. 3,57,840/- being the original price of the assets...
Blood relation exemption of Sec 56(x) (2).
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