07 January 2011
where the assessee sells immovable property gifted to her by her father whether the period for which it was held by her father should also be considered in deciding long term or short term nature of capital gains
07 January 2011
Yes, that period will be consider for deciding that whether that is Long Term Capital Asset or Short Term Capital Asset. However, if it is Long Term capital asset then benefit of indexation will be available on from that year in which father transferred his asset to his son.
CAclubindia
