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Suppose u have received one capital asset as gift and u have paid tax on income under the head income from other source in respect of gift by comparing stamp duty value and consideration received. So u have to pay tax then if the stamp duty value is more than 110% of consideration and also above 50,000. Otherwise, no tax liability then. After some years, u have transferred above mentioned property. There u have to take the value considered for gift taxation as cost of acquisition. I.e. if consideration is within the allowed variation , no tax paid at the time of receiving gift ... So consideration paid will be cost of acquisition. And If stamp duty value was higher considering the limit mentioned in first para. Then u have to take statmp duty value as cost of acquisition
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