Calculate LTCG on Gifted Property Using Previous Owner's Acquisition Year per Section 49(1) of Income Tax Act.

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....LTCG - Benefit of Indexation - period of holding u/s 49(1) - when the assessee sells his immovable property which is acquired under gift or will, while computing the capital gain the index cost of acquisition has to be computed with reference to the year in which previous owner first held the asset and not the year in which the assessee became the owner of the asset - AT....