Capital Gain on Non Agriculture Assets

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 ?  

Replies (2)
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.

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

Agree with above comment

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