Capital gain tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2017 How do we calculate long term capital gain on sale of property if the cost of acquisition of the property is not known at the time of sale? Also pls let me know what is the rate of tax with indexation and without indexation? The property is an ancestral property and it has been transferred after mutual consent for consideration and no documents have been made for it. Only stamp paper of Rs 100 are used to document the sale. Is it valid or not? Plzz help me with the query.
Thanks & Regards

Amol S Joglekar

Amol S Joglekar (Expert)
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24 October 2017 it is valid subject to section 50C.
You can take the value as on 01/04/2001 for cost of acquisition.

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