how to ascertain FMV on 01/04/1981 & save tax ?
This query is : Resolved
15 May 2011
one of our client's father had purchased land/plot in 1944 for Rs.1800/-.
Now he is selling the plot for Rs.9crore.
how to ascertain fmv as on 01/04/1981 for calculating LTCG.
He has no residential house property.
How can he save the tax.
he can invest Rs.1 cr in residential house property.
what are the other ways to save tax ?
Now he is selling the plot for Rs.9crore.
how to ascertain fmv as on 01/04/1981 for calculating LTCG.
He has no residential house property.
How can he save the tax.
he can invest Rs.1 cr in residential house property.
what are the other ways to save tax ?
15 May 2011
get the FMV from local municipality/ registrar/ govt certified valuer
16 May 2011
Get the valuation from Income Tax dept approved land valuer.
16 May 2011
U CAN GET THE VALUATION AS ON 1-4-1981 FROM ANAPPROVED VALUER]
U CAN INVEST THE NET CONSIDERATION IN A NEW RESIDENTIAL HOUSE TO GET EXEMPTION UNDER SECTION 54F PROVIDED THE CONDITIONS SPECIFIED THEREIN ARE FULFILLED
CA MANOJ GUPTA
JODHPUR
09828510543
U CAN INVEST THE NET CONSIDERATION IN A NEW RESIDENTIAL HOUSE TO GET EXEMPTION UNDER SECTION 54F PROVIDED THE CONDITIONS SPECIFIED THEREIN ARE FULFILLED
CA MANOJ GUPTA
JODHPUR
09828510543
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
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Invoice V/S Goods receipt Note Date
- Value of property in capital gain
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
