If you acquired property before April 1st, 2001, and choose not to use the indexation benefit for capital gains tax, your 'cost of acquisition' can be considered the Fair Market Value (FMV) of the property as of that date. This FMV is often determined by the circle rate applicable to the property on 1st April 2001.
26 May 2025
what is cost of acquisition for property acquired before 2001 in case no indexation benefit is availed? Can we consider cost as FMV as on 1-4-2001 as "cost of acquisition".