Capital Gain on Non Agriculture Assets

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10 Points Posted on 22 September 2021

Dear Professionals,

my father Purchased Agriculture Land in 1989 after that the same is transfer on my name in 2018 after that i have converted in Plot (Non Agriculture) in 2020 and then sale in 2020.

how to calculate Purchase cost of Plot ?  

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On 22 September 2021 at 17:49 Report
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Quick Summary
This discussion addresses how to determine the purchase cost for capital gains tax when an individual converted agricultural land into a non-agricultural plot and subsequently sold it. The advice provided suggests obtaining a valuation from a registered valuer as of 1st April 2001, or checking the registrar's office for circle rates during the 2001-02 financial year.

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SEO Sai Gr. Hosp.
212444 Points Posted on 22 September 2021

Get valuation done from a 'Registered Valuer' as on 01.04.2001.

OR Check  with Registrar Office for the Circle rate of the area in FY 2001-02

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On 22 September 2021 at 18:27
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Chartered Accountant
24588 Points Posted on 23 September 2021
Agree with above comment
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On 23 September 2021 at 06:13

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