Indexed cost of asset acquired in inheritance to be computed by taking year in which it was held by previous owner: HC

INCOME TAX : While computing capital gains arising on transfer of a capital asset acquired by assessee by inheritance, indexed cost of acquisition has to be computed with reference to the year in which previous owner first held asset and not year in which assessee became owner of asset.INCOME TAX : While computing capital gains arising on transfer of a capital asset acquired by assessee by inheritance, indexed cost of acquisition has to be computed with reference to the year in which previous owner first held asset and not year in which assessee became owner of asset.www.taxmann.com Latest Case LawsRead More

Leave a Reply