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Fair market value in case of property purchased in 1999

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 September 2017 The assessee has sold a shop in F.Y. 17-18 for which he has purchase deed of the year 1999. We have not taken valuation for the same.
The assessee is ready to invest maximum amount in 54EC bonds.
Is it mandatory to take valuation and obtain fair market value?
or can we show capital gain on the basis of purchase cost?
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Amol S Joglekar

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Amol S Joglekar (Expert)
21 September 2017 if you are investing whole amount in 54EC bonds, then no need to find out FMV

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