Plz help me???
There is a property(land) which is held by Mr.A.On the death of Mr.A the property was inherited by his sons B,C.There was an arrangement made between B,C and D,that Mr.D will be constructing a residential complex on that land and after completing the construction B and C will be given a flat each.(purchase of land 03-06-1977)
The construction was completed and as per the agreement a flat was given to B and C each respectively.(flat was given on 15-02-2003)
Mr.C sold the flat on 13-06-2008.
What will be date of acquisition and the cost of acqistion to be considered for the sale of the flat(by Mr.C)???
Plz do let me know about the tax treatment for such a case!!!
CAclubindia
