capital gain on property aquired by will.
This query is : Resolved
16 November 2010
Sir/Madam,
My father had bought a piece of land in 1960.He died in 1998 after making a will and as per his will the said piece of land was given to me and my three brothers jointly.Now we all four brothers want to sell the piece of land.I want to know that:- 1)What will be the cost of acquisition,if it will nil or the fair market value of 1981.
My father had bought a piece of land in 1960.He died in 1998 after making a will and as per his will the said piece of land was given to me and my three brothers jointly.Now we all four brothers want to sell the piece of land.I want to know that:- 1)What will be the cost of acquisition,if it will nil or the fair market value of 1981.
16 November 2010
Fair market value as at 1st april 1981 at your choince otherwise the cost at which the property will was purchased originally.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
