Cost of acquisition of inherited asset
This query is : Resolved
02 July 2022
Assessee got land settled from his father in 2021. Father had got the land on 31.10.2018 via court order on account of legal dispute with brother. (It belonged to assessees grandfather who did not leave a will. ) During the course of legal proceedings, valuation by govt surveyor was obtained in 2013. For computation of cost of acquisition, can the fmv obtained in 2013 be considered and index it to 2021?
Assessee sold the land in July 2021.
Assessee sold the land in July 2021.
CA R SEETHARAMAN
(Expert)
02 July 2022
Yes, you can adopt FMV of 2013.
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