how we will compute tax on sale of Parental House received under will? If Any, and what will be its cost of acquisition?
CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 18 June 2012
dear amit,
as per income tax act the cost of accuisition for you will be cost to the previous owner who actually purchased the house for consideration subject to indexation.
cheers
ganesh agarwala
amit
(st)
(111 Points)
Replied 19 June 2012
what if u dont know the cos of that house and also u dont have any evidence.
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