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Capital gains- zero value property

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(Querist)
25 March 2022 Assessee received property from government under Dhanapatra ( for under previledged people ) and zero cost . How to record the property value in books of assessee and how to calculate capital gains in case of sale of such property
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CA Puja Sharma

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CA Puja Sharma (Expert)
25 March 2022 In my opinion, the cost of the property to be recorded in the books will be Nil.
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swetha

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swetha (Querist)
25 March 2022 If they sell the property whether value to be taken for cost of acquisition will be zero?




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