13 May 2018
An assessee bought a House Property in 1994. He wants the sell the same now. In order to Computer the Long Term Capital Gain the assessee can take indexation benefit by taking Cost of Acquisition as Purchase price or FMV as on 01.04.2001.
How can one arrive at FMV as on 01.04.2001? How can one prove that X amount was the FMV as on 01.04.2001 in case Tax Officials ask the same?
13 May 2018
Fair Market Value can be obtained from the guideline value fixed by the state government for the purpose of registration fee and stamp duty for the similar property prevalent on 01.04.2001
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