Urgent
Father of X bought piece of land in 1984-85 which he gifted 2 His son in 1998-99.
The son transfered the land in AY 2015-16.Cost of land was 2L.What will b the Inexed C.O.A??
1. 2L*1024/CII of 84-85
Or
2. 2L*1024/CII of 98-99
Replies (2)
Cii of 84-85 to be considered for both the cases. And cg will be taxable as per the sons share in land.
84-85 should be the valid year
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