banner_ad

Long term capital gain

This query is : Open 
Profile Image

Profile Image

(Querist)
25 August 2020 Hello sir. My mother expired in 2018. Her residential property Acquired in 1976 has been transferred in my name in 2020 being the legal heir. If i sell this property in this year itself ie in 2020 then my que 1. What market value shall be considered to calculate capital gain. Can we consider FMV as of 1-4-2001 to apply CII ? 2. Will the gain be treated as long term gain even if the property was transferred in my name in 2020. Looking forward to your response. Thanks
Profile Image

CA Ankith Jain

Profile Image

CA Ankith Jain (Expert)
26 August 2020 1. Rightly said, you need to consider FMV as on 01.04.2001 for CII, and 2. The gain will be treated as Long term capital gain.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

M/s G.K. Choksi & Co.

New Delhi

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details