INHERITED PROPERTY SOLD AND CAPITAL GAIN TO THAT EFFECT

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TARAK KUMAR ROY (Querist)
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07 June 2023 An inherited property (which was purchased in 1964) was sold by 6 brothers/persons on 20.12.2022 worth Rs. 1 Cr. One of them received Rs. 2000000/- by a/c payee cheque as full and final settlement. How to work out Capital gain or loss for the current A.Y. 2023-24 for IT return. (Know CII for F.Y. 2001-02 = 100 and CII for the F.Y.2022-23 is 331). Kindly let me know your valuable direction for the matter cited above. Regards, Tarak Kumar Roy, West Bengal.

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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07 June 2023 Kindly let me know your valuable direction for the matter cited above. Regards, Tarak Kumar Roy, West Bengal.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 June 2023 Get the circle rate of the property from the Sub-registrar office of the region. Share the value equally to each inheritant. That will be cost of acquisition for each individual as on FY 2001-02.

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