Indexation - House property

[pinki singhal]

Hi Can please anybody tell me that if a Son has got a property in inheretence after the death of his father.. then From which YEAR Indexation shall be applicable -From the year in which father purchased the House OR the year in Which son got the house??? Thanks in Advance....

AI Summary

Confusion Over Indexation Year for Inherited Property: Sections 2(42A), 47, and 49 of Income Tax Act Discussed. A query was raised regarding the applicable year for indexation on a property inherited by a son after his father's death. One response stated that the cost of acquisition should be based on the father's purchase date, as per Section 49 of the Income Tax Act, 1961. Another reply highlighted that the holding period should include both the father's and the son's periods, referencing Sections 2(42A), 47, and 49. However, a third response argued that indexation should start from the year the son inherited the property.