Capital Gains

This query is : Resolved

Debashis Mandal (Querist)
Follow

17 April 2011 Respected Experts
In case where a plot of land has been acquired by a lady from her grand father & then sold befour completion of 36 months from transfer of such land from grandfather - in such a case can the grand fathers period of holding be considered for calculation of capital gains - STCG or LTCG
& if the cost in the hands of grand father is not avaulable then a valuation can be made on the date of sale or 01.04.1981 date

Thanks
Debashis Mandal

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

17 April 2011 What i understand from ur query that the plot has been acquired by inheritance. In that case the period of holding will include the period for which lady's grandfather held the prop. Indexation woud be done from the year GF held the prop. FMV as on 1-4-1981 can be taken at a value determined by the App valuer