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Indexation benifit for property located outside india

Tax queries 193 views 1 replies

Dear Sirs,

I am a Resident and sold my property located in U.K which was purchased in 1985.

I sold the property in F.Y 2016-17 and there is a Long Term Capital Gain.

Now for that whether can i use Indian Inflation index for indexation benifit for the purchase of property located outside India.

Please help me.

Replies (1)
Proviso to Sec. 48 of the Act applies to long term capital assets. And capital asset is defined as including any property held by assessee whether or not connected with business or proffession. So, you may take indexation benefit.


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