TaxTMI 
TaxTMI 
TaxTMI 
Indexed Cost of Acquisition
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....ndexed Cost of Acquisition<br> Query (Issue) Started By: - Bayyareddy DK Dated:- 3-8-2021 Income Tax<br>Income Tax<br>Dear Sir, Though in the definition of 'indexed cost of acquisition', the ....
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....word used are, "in which the asset was held by the assessee" a harmonious reading of Sections 48 and 49 makes it clear that, for the purpose of 'Indexed Cost of Acquisition', it has ....
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....to be understood as the first year in which the previous owner held the said property. Otherwise, if the date of inheritance is taken into consideration, then the cost of acquisition of the asset on t....
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....hat date corresponding to the market value is to be taken into consideration. My client purchased agricultural land in 2004 converted in the year 2014. He made agreement to sell but did not conclude....
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.... the deal. He died in the year 2016. His son made agreement to sell to different party and received part payment. Son died due to Covid in April 21. Son's wife is making a sale now. What is my cos....
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....t of acquisition, can I take market value in the year 21 as cost of acquisition even though I have 2004 purchase cost and converted costs which are very less. Please advice<br> Discussion Forum - Know....
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....ledge Sharing ....