Jatinder Singh Bedi (--) 19 February 2020
We have ancestoral property bought in 1990 for Rs 60 thousand which got transferred through registered Relinquish Deed in July 2019 and I have sold it in Jan 2020 for 44 lacs ( stamp duty value is 28.50 lacs)
1. Will it attract LTCG or STCG.
2. In case of LTCG , how will FMV in 2001 will be calculated . Can we consider it as Rs 11 lacs based on our assumption on sale of similar property in vicinity.
3. In case STCG, what will be cost of property as same has been given without consideration