Capital gain arising on sale of plot

This query is : Resolved

ramya (Querist)
Follow

24 May 2018 Assessee has a land which is acquired from his father. he gave the land for Developement and acquired 3 flats in return . he sold one of the flat.Then what is the cost of acquisation & Improvement for owner
Please do the needful

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

24 May 2018 Cost of acquisition of the sold out flat is the stamp duty value as on the date of
issuing completion certificate of the flat issued by the competent authority.
Inference - section 49(7) r.a.w 45(5A).