LONG TERM CAPITAL GAIN - GIFT

This query is : Resolved

J.P. RANPURA (Querist)
Follow

14 March 2020 Respected all Experts,

This is Jay Ranpura - Inter C.A Ma'am,

Mr. A having a Gold Business from 1985 and in 2017 he give gift of his some gold stock (500 gms) to his son Mr. B cost value Rs. 545(1 gram) (stock as on 2001-02) now his son want to sales this stock @ Rs. 4006/- (Consideration value)(Index Cost: 289).

Issue under consideration : - Can Mr. B get benefit of Indexation under this transaction with previous owner cost & index value (Means Value : Rs. 545 & Index Cost: 100)?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

14 March 2020 Yes Mr. B get benefit of Indexation under this transaction with previous owner cost & index value (Means Value : Rs. 545 & Index Cost: 100).