Gift value
This query is : Resolved
20 October 2021
Dear Sirs,
One of my relative have received a gift from her father which was purchased during the year 1965-66. My query is for accounts
purpose we have to consider S.R.Value as on date of gift or the value of purchase deed of 1965-66, or INDEX VALUE as per Income tax act. Please give your valuable advise.
Thanks in advance.
K.B.Nagesha rao
One of my relative have received a gift from her father which was purchased during the year 1965-66. My query is for accounts
purpose we have to consider S.R.Value as on date of gift or the value of purchase deed of 1965-66, or INDEX VALUE as per Income tax act. Please give your valuable advise.
Thanks in advance.
K.B.Nagesha rao
20 October 2021
What is the gifted item?
20 October 2021
Vacant site in Bangalore
20 October 2021
You may take the value as per purchase deed of 1965.
Also have option to consider circle rate of the plot as on 01.04.2001.
Also have option to consider circle rate of the plot as on 01.04.2001.
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