Capital gain


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 May 2018 Dear Experts,

Property being land (which was purchased above 100 years ago, purchase cost is unknown) is received in inheritance, which is sold in FY 2017-18 for Rs. 24,50,000/-

What will be the capital gain in this case ?

Thanks in Advance.

18 May 2018 You can take the fair value of the land as on 01-04-2001 and index the same

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 May 2018 How to take fair value ? Is valuer's report needed to arrive fair value ?

18 May 2018 You can take the help of a valuer

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 May 2018 Is it compulsory to take valuation report from certified valuer or one can take fair value by his own ?

18 May 2018 You can refer the Guidance Value or Neighborhood Rates prevailing around 01-4-2001. Valuation report is not mandatory

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 May 2018 Thank you expert for your inputs.

18 May 2018 You are welcome......


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details