CGT on the sale of house

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  1. RAHUL MAHINDRU

    RAHUL MAHINDRU New Member

    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

    Regards

    rahul
     
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) 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
     
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