20 June 2011
Mr X has bought a plot of land in May 1990 for Rs 10 lacs. He subsequently spent Rs 50 lacs each in 1991, 1992, 1993 and finaly the house was completed in May 1993. total cost Rs 1.60 lacs inclusive of plot cost of Rs 10 lacs. In 2010 he intends to sell the same. For the purpose of indexation, will it commence from 1990 or 1993 when the house is fully constructed.
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