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Capital gain

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(Querist)
27 August 2012 an individual got a land in family partition in 1996. Cost of the previous owner and circle rate of year 1981 is unknown. The said land has been sold in year 2012. What will be the purchase cost for computing capital gain.
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Prakash Kochar

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Prakash Kochar (Expert)
27 August 2012 Market rate of 1981 can be arrived from the sale transactions of the lands of the circle, of similar situation, registered in registrars office during 1980-81 or by obtaining valuation report of the land under consideration from regd. valuer.
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