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fair market valu as on 1-4-1981

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(Querist)
24 March 2008 hi
can anybody please tell me how can i find the fair market value of a particular property as on 1-4-1981
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Vikas Garg

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Vikas Garg (Expert)
24 March 2008 hi
if the asset is purchased on or before 1981 then u can take cost inflation index as 100 and claculate the value accordingly.
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
24 March 2008 IF NO FAIR VALUE CAN BE DETERMINED THAN THE PRICE AT WHICH IT WAS BOUGHT CAN BE CONSIDERED AND COST INFLATION INDEX SHALL BE GIVEN BY TAKING THE BASE YEAR 1981 AND INDEX AS 100
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Devendra Mishra

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Devendra Mishra (Expert)
24 March 2008 Take it as 100
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