Capital gain (cost of acquisition of agriculture land)
Querist : Anonymous
this land is become my property before 01 April 1981 by virtue of Inheritance.
What should be cost of acquisition for the land?
whether it will be FMV as on 01.04.1981 since no cost of previous owner.
Querist : Anonymous
This land conversion have been taken place in 02 Jan 2013.
Whether it is long term capital gain?
What is the way to find out value as on 01.04.1981?
.
Valuation as on 1.4.1981 will be made by an approved valuer, for that nominal fee will be charged by him.
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In the indexed cost of acquisition you may add cost of improvement i.e. conversion cost
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