27 November 2009
A B C D are co owner of a property(1989), and also relatives B C D relinquished their rights in favour of A, and A sold the property(2009) immediately, How the capital gain will be calculated and in whose hands?
27 November 2009
On the date of relinquishment B, C, D will be attracted with capital gains, the valuation should be cosidered is the market value.
And on the date of sale A's own share 1989 valuation, and BCD relinquishment 2009 acquisition value and the sales value should be taken into account for calculating capital gains in the hands of A.