Capital gain
This query is : Resolved
20 March 2012
I WISH TO KNOW WHAT WOULD BE THE COST OF ACQUISITION FOR THE PROPERTY WHICH GOT BY GIFT FOR EXAMPLE
IF I RECEIVED A GIFT OF RESIDENTIAL PROPERTY IN THE YEAR 2009 AND SAME IS SOLD IN 2010-11 FOR RS 1200000/-, SO WHILE CALCULATING THE CAPITAL GAIN WHAT IS THE COST OF ACQUISTION FOR CALCULATING THE CAPITAL GAIN
KINDLY GIVE ME THE RULE AND SECTION
IF I RECEIVED A GIFT OF RESIDENTIAL PROPERTY IN THE YEAR 2009 AND SAME IS SOLD IN 2010-11 FOR RS 1200000/-, SO WHILE CALCULATING THE CAPITAL GAIN WHAT IS THE COST OF ACQUISTION FOR CALCULATING THE CAPITAL GAIN
KINDLY GIVE ME THE RULE AND SECTION
20 March 2012
COST TO PREVIOUS OWNER THAT IS THE PERSON MAKING THE GIFT WILL B UR COST SEE SECTUION 49
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
20 March 2012
Dear Raghvan ,
U/Sec 49(1) , IF ANY PROPERTY IS ACQUIRED UNDER GIFT , COST TO THE PREVIOUS OWNER IS DEEMED TO BE THE COST OF ACQUISITION TO THE ASSESSEE .......
U/Sec 49(1) , IF ANY PROPERTY IS ACQUIRED UNDER GIFT , COST TO THE PREVIOUS OWNER IS DEEMED TO BE THE COST OF ACQUISITION TO THE ASSESSEE .......
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
