Please hepl on Capital Gain Query

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This query is : Resolved

Vivekranjan (Querist)

08 February 2011 A proerty is purchased in 1962 and built a house on that in same year. Approx expenses were Rs.12000/- in 1962, and today no purchase deed of that or any paper is available. And today (in F.Y.2009-10) it is sold for Rs.15 Laks.(Sale deed is available). How to calculate capital gain on that? I tried for Governments Registery office to get registery details but no response fron them.(To get 1981,market value for indexation) . I have todays market value certificate available from them.....Please help on this, very urgent......

Kapil Gupta

Kapil Gupta (Expert)

08 February 2011 As the property was purchased prior to 1981, it would be a long term capital gain and the same would be computed by giving indexation benefit. For indexation, the price of property can be taken either the actual price or the fair market value as on April 1, 1981.
To get the fair market value you may contact stamp duty authority.

Guest

Guest (Expert)

09 February 2011 In such circumstances, you may obtain a valuatrion report from a registered valuer.

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