Capital Gain
This query is : Resolved
Sreenivasulu Reddy
(Querist)
11 January 2010
One of our clients (Individual) has given his land for joint developer for construction of Residential apartments for the consideration of 40% flats. Land has come from his forefathers property. Now the apartments are almost ready and landlord started selling his share in the present financial year. Landlord has contributed nil for the construction except the land.We would like to know what is the cost of improvement / acquisition to be taken for the capital gain calculation to the landlord. Kindly quote any case if applicable... Thanks
Seenu
Seenu
CA Tilak Raj Sharma
(Expert)
11 January 2010
In my opinion it is fair market value as on 01.04.1981 and after that apply indexation.
Sreenivasulu Reddy
(Querist)
11 January 2010
Sir,thanks for reply and Cant we take value of Sqt for every flat (as per Govt Value)as cost of Acuisition / Improvement
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