Capital gain
This query is : Resolved
19 November 2018
Hi sir...
A client has received a land from his father as a gift on December 2004. He sold the land for Rs.30,00,000 on June 2018. His father purchased the land on 1976. So how we calculate tax on capital gain?
A client has received a land from his father as a gift on December 2004. He sold the land for Rs.30,00,000 on June 2018. His father purchased the land on 1976. So how we calculate tax on capital gain?
19 November 2018
For capital gain purposes cost of acquisition shall be the cost of acq for the purchaser i.e. the father.
19 November 2018
Which date we want to select for computing cost of acquisition ?
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