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Capital gains

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(Querist)
16 March 2019 Purchased property in 1985-86 for Rs.200000/- Sold property in 2017-18 for Rs. 5500000.
As the base year is changed from 1981 to 2001 so I want to know how to get FMV of 2001 for my property sold as indexed cost of Acquisition will be applied on FMV of 2001.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
16 March 2019 Fair market Value of the property during 2001 can be approximately arrived by using the government guideline value/circle rate for properties located in the same area during the above period.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
16 March 2019 You can also engage the services of government approved property valuers who can arrive at the fair value of the property and certify the same in return for a nominal fees
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Sachin

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Sachin (Querist)
18 March 2019 Thank you Srinivas'ji
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