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Income Tax - Highlights / Catch Notes

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Computation of capital gain - property received under gift - ...


Calculating Capital Gains on Gifted Property: Use Previous Owner's Acquisition Cost and CII from Transfer Date per Sections 48 & 49.

July 17, 2013

Case Laws     Income Tax     HC

Computation of capital gain - property received under gift - Section 48, 49 - CII to be taken from the date of transfer while cost of acquisition would be the cost for which the previous owner of the property acquired it - HC

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