11 November 2009
Can some body solve my following problem regarding capital gain in case of charitable trust.
Let assume Sales Value of Assets 100 Less; Expense on sales 0 ----- 100 Less Cost of acq. (Indexed cost) 55 ----- Long Term Capital Gain 45 Utilisation of New asset (New asset purchased-old asset) 50(assumed)-25(assumed before indexation) 25 --------- Long term capital gain 20 -------- My problem is whether in calculation of utilisation OLD ASSET VALUE ALSO BE INDEXED OR NOT. GIVE REPLY WITH PROPER SUPPORTING
CAclubindia
