Dear Experts,
My client received from notice income tax deaprtmnent reason for (sale of land) Age 88 Years
1. He wife name Land purchased Rs. 17,500/- year of 1978
2. he wife expired last five year back.
3. then he sold now wife asset 10 Lakhs. same time new land purchase for 550000.00
HOW TO CALCULATE CAPITAL GAIN
Pls guide
Find out the market value of the property in the year 1981. Who is the owner of the property? Only the husband or children also?
Mr. Mihir thanks for reply
Owner of property only husband no child
Aggarwal Sarawagi and Co
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CA
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SMJ global advisors pvt ltd
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CAclubindia
