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Long Term capital gain

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G.Veerabadran

G.Veerabadran (Querist)
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30 January 2021 Mr X had purchased a flat for 23 lakhs but the Sale Deed value is only 9 Lakhs. Agreement to Sale shows the Value as 23 lakhs and the money paid through LIC Loan ( Having all the Proof of payment) in the year 2011.

Now he wants sell the property for 37 lakhs. For Index the cost of the Flat whether 23 lakhs ( Actual cost ) or the Registered Value of Rs. 9 lakhs ( Sale deed value ) to be considered.

Please clarify .

VEERABUDRAN

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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31 January 2021 Sale deed value of 9lacs to be considered.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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31 January 2021 You have to considered 9 lakh as cost of acquisition

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