Regarding Indexation of Gifted Property

Jitender Singh Rawat (Advocate) (78 Points)

12 April 2023  
A father gifted a share of land to his daughter. For this A Gift deed was executed of Rs.806000/- in FY 2018-19.

Same was purchased by his father of Rs.357840/- in FY 2014-15.

Now which value to be considered for Indexation if there shall be a sale of above property in FY 2023-24?

Is it Rs. 806000/- (As per gift deed)
or Rs. 357840/- being the original price of the assets?