cost of acquisition
This query is : Resolved
07 September 2010
suppose a land & building was purchased in year 1968 for Rs. 65000 and this land & building is sold during the current year for Rs. 3000000.
now my qustion is that we can take cost of acquisition Rs. 65000 or fmv as on 1apr.1981 but from where we will get the fmv of said land & building
now my qustion is that we can take cost of acquisition Rs. 65000 or fmv as on 1apr.1981 but from where we will get the fmv of said land & building
07 September 2010
A valuation report may be sought from an approved valuer showing the value of the land and building as on 1/4/1981.
Citation :- Sosamma Paulose V JCIT (2003) 79 TTJ (Coch-Tri).
Citation :- Sosamma Paulose V JCIT (2003) 79 TTJ (Coch-Tri).
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