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Capital gain
What is cost of acquisition in case of ancestral land when cost to previous owner not known?
Replies (2)
It depends on the year of purchase for the previous owner. If purchased before 1981, then market value of the property as on 1981 will be taken. If after 1981, then market value of relevant year will be taken as cost of acquisition.
Thanks for reply. But how can we get market value as on 1981
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