When Capital Assests acquired in modes specified of u/s 49(1) what is the indexation applicable ? is it for the first year in which the capital assests was held by previous owner or the year in which capital assets was first held by assessee himself.
Menu
Capital gain
Replies (2)
Indexatio shud be taken for teh eyar when the previous owner purchaed the asset & not when the current owner possessed the asset.
Hello Sidh
Indexation Shall be from the year in which previous owner acquired the capital asset. This view has been affirmed by delhi high court as well as bombay high court. In one of my earlier posts I discussed about this in detail. You may check this link for further details of the case law- /forum/capital-gains-very-important-issue-for-nov-12-216069.asp#.UDTwKallQxE
Best Regards
Ashish Pathak
Recent Threads
- Procedure for 'inter-unit job work' under GST Act
- Advances received and Advances adjusted - HSN Summ
- TAX ON SALE OF COMPANY'S SHARES
- Refund on Hold - Section 245
- CLARITY REGARDING ESIC WAGE CALCULATION AFTER NEW
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
Related Threads
CAclubindia
