15 June 2018
Property acquired in 1992 being sold today. I read an Expert answer that Market Value as at 2001 April 1st should be considered. How to arrive at the value? Alternatively can we use indexation having 1981 as base? Please elucidate.
What I mean is Cos of acquisition in 1992 = 2,00,000/- Indexed Value in 2001 = 2,00,000 x 426 /199 = 4,28,141/- Indexed Value in 2017 = 4,28,141 x 272/100 = 11,64,544/-
Can we use 11,64,544 as Indexed Cost of Acquisition? Or If we have to consider Market Value as at 2001 April 1st, is there any guideline provided by the Government for arriving the said value?
CAclubindia
