Cost of acquisition - Gifts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2010
What is the cost of acquisition in the hands of the receiver if certain shares and debentures are given as a gift by a grandfather to the grandchildren ?
16 July 2010
Since the gift is given by the relative it is not taxable in the hands of the recipient.
The cost of the acquisition is the cost to the previous owner, ie the cost at which the greandfather has acquired
The cost of the acquisition is the cost to the previous owner, ie the cost at which the greandfather has acquired
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