CGT on the sale of house

Share This Thread


    Hello sir/mam,

    My father purchased a house in year 1990 in 2 lacks rupees.

    He made this house gift to me on 15 Apr 2016.

    Now the value of the house is approx. 36 lacks rupees.

    Now the questions is, if I sell this house in year 2016 and want to pay the capital gain tax of the money get by selling this house then as per law which year is consider as the purchase year of the house for me while calculating CGT?

    1990 OR 2016

    Waiting for the reply


  2. sai tejesh(

    sai tejesh( Active Member

    Believe me,take indexation benifit from 1990 onwards(i.e previous owner holding period also to be considered for calculation of indexation) not 2016.
    Bombay high court (vs) majula j.shah CIT
Draft saved Draft deleted
Similar Threads Forum Date
Income Tax on sale of a house Income Tax Jul 17, 2018
Whether deduction u/s 54 is available for capital gains arising from sale of more than one house, ho Income Tax Nov 17, 2017
Set off capital loss with long term capital gains from sale house Income Tax Oct 21, 2017
Tax on sale of old house Income Tax Mar 3, 2017
sale of house property & buying of shop Income Tax Jan 15, 2017