Land valuation method

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 December 2015 Dear Sir/Madam,
my Question is
if my grandfather is and land owner that is gifted by My Great Grandfather which is now gifted to me on 2013 and i Sold in Year 11-Dec-2014,
Now, how to calculate the value of land, no Land near around is Sold After 1970 till Date,
what value is to considered as on 1981 to calculate Index for Long Term Capital Gain.?
What if Same land is Agriculture land at least 10 km away from the Urban Area,

Regards
Ajay Patel (Article Asst.)
+91 7777 9050 84

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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23 December 2015 If the land is 10kms (Areal Distance) away : No Tax liability as the asset transferred is not a capital asset.
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For getting 1981 valuation you have to contact approved (by IT) registered valuers.
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Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2015 Dear Sir
What can be value of Land if the Land in 1km away from city, as on 1981.?
if no land is Sold after 1970,in near around ?