Computation of Fair Market value

Mr.P.Prqatim. G

(1) In your case first section 49 applies as the property is inherited property.

(2) To ascertain fair market value for the year 1981 you can adopt the value as per the records of registration authority.  You can approach registration authorities.

Regarding other alternatives I request experts to participate in the discussion.

Best Wishes

Sathikonda

Mr.Pratim..

I do also think that you should ask the registration authorities about the FMV of that property in 1981........ The authorities will provide you the value of that property -1981....