Cost of ancestral property
This query is : Resolved
10 August 2013
Person have ancestral property. Cost of the property not known. What will be the cost of the property for disclosure in balance sheet?
Person have no details of original purchase of property.
Please guide on this.
Person have no details of original purchase of property.
Please guide on this.
11 August 2013
If this property was acquired by your ancestors before 1.4.181 then the fair market value of the asset on 1.4.1981 would be its cost of acquisition.
11 August 2013
if fair market value is not available, Then?
11 August 2013
The value on which stamp duty was chargeable on 01.04.1981 is to be taken as FMV.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
