Capital gain on ancestral property
This query is : Resolved
Dr.Raj Pal Vij
(Querist)
29 July 2019
Sir
My father purchased a plot in 1989 fro Rs 50000/-
He willed it in favour of my two sons in equal parts.The will was registered.
He died in July 2000.
That plot was sold in July 2019 for a cosideration of 1450000.(Rs.7.25 lacs to each ones account)
How to calculate the capital gains.
My father purchased a plot in 1989 fro Rs 50000/-
He willed it in favour of my two sons in equal parts.The will was registered.
He died in July 2000.
That plot was sold in July 2019 for a cosideration of 1450000.(Rs.7.25 lacs to each ones account)
How to calculate the capital gains.
CA R SEETHARAMAN
(Expert)
30 July 2019
Take market value of the property as on 01/04/2001 and calculate indexed cost and deduct it from selling price.
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