Sale of gifted property

I had got property as a gift from non relative and paid tax in other source of income as value determined u/s 50c, now when I am selling the property what will be consider as cost of acquisition also from when will indexation start.
Replies (7)
Quick Summary
This discussion clarifies the cost of acquisition and indexation period when selling a property received as a gift from a non-relative. The cost of acquisition is generally considered the cost to the previous owner (the donor). The period of holding for indexation purposes starts from the date the property was originally purchased by the donor, not the date it was gifted to you.

From the day you have received in gift deed.. acquisition cost as per gift deed
Sale of gifted property is sale value less cost of acquisition.
Logically, the tax paid to receive that gift should also be treated as cost of acquisition. Not sure of this but logically it should be. Some reading required in this direction.

Ofcourse, Cost of acquisition will be cost to the previous owner and the period of holding will be period held by previous owner plus donee.

Rgds - CA. Raj Doshi - R C D & Co.- Chartered Accountants - Kandivali West - Mumbai
Raj sir, of tax is paid in such gift received... then ideally date of acquisition should be from the date of gift.

please clarify

In case of property received as gift, the period of holding is reckoned from the date of its purchase by the acquirer, other than by way of gift. If the property has been originally acquired by non-relative, the period of holding will be reckoned from such purchase date.

Cost of acquisition is the cost to the previous owner.
Originally posted by : Sharath chandra
Raj sir, of tax is paid in such gift received... then ideally date of acquisition should be from the date of gift. please clarify

No Dear...

 

If received as gift then it's not calculated from date of gift (or gift deed). 

The calculation required from date of previous valued (like donor's purchased date).

 

Means if the said property given as sale (not as gift) then property value calculated with acquisition. After this the value increased at the time of sale (so it's gifted and calculation required)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
11 August 2026
Chartered Accountant

Aviv Global Pvt Ltd

Ahmedabad

CA

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details