For F.Y. 2017-18, while calculating Capital Gain on sale of immovable property, which had been purchased before April 2001, do we need to take purchase value or FMV as on 01-04-2001 as purchase consideration?
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Base year value while computation of capital gain
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Either of them.......
yes,for fy 17-18 onwards base year is 2001-02 and fmv as on 1.4.01 is to compared with Cost of aquisition
Thanks for sharing knowledge and experiance.
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You need to take purchase value or FMV as on 01.04.2001 as purchase consideration whichever is higher for calculating long term capital gain
Purchase value or FMV whichever is higher
Purchase value or FMV whichever is higher
Purchase value or FMV whichever is higher
take fair value or cost whichever is more beneficial to you that is whichever is higher.
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