25 February 2014
Hi all... my query is if any long term capital asset is transfer (eg:- land) in FY 2013-14. which was purchases in the FY 2001-02, but the improvement on such property is done in the year 2012-13. now in this case the asset is purchases before 36 months but improvement is less than 36 month. Should the cost of improvement also be index??? if yes pls give the reason.
CAclubindia
