LTCG VALUATION OF COSTOF ACQUISITION

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This query is : Resolved

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A user's PF withdrawal was rejected because their passbook was not attested. They are seeking advice on whether to get it stamped at the bank or simply sign it. Another user suggests that the cost of acquisition for a jointly purchased and later partitioned property should be based on the market value at the time of partition, with indexation applied. For the PF issue, the advice given is to simply sign the passbook.

V Muthalagu

V Muthalagu (Querist)

22 August 2023 Mr A & Mr B were brothers jontly purchased a building for Rs 4,00,000/- (Both have equal share) during FY 1986-87. Later during FY 2015-16 they partitioned the same eqally. The market value at that time was Rs 50,00,000/-. Subsequently Mr A sold his share of building for Rs 54,00,000/-. In this case what is the cost of acquisitiion Rs.4,00,000 (or) Rs.50,00,000

deepa iyer

deepa iyer (Querist)

22 August 2023 Hi Sir,
I tried to withdraw some amount from my PF on 31st July, this morning i got a message that "CLAIM REJECTED PASSBOOK NOT ATTESSTED" in this case should i go to bank & get stamp done on passbook or shall i just sign over my passbook?
Please advise.