Assesse has sold the property for more than 50 Lakhs. However the same property was purchased 40 years before for which the assessee does not have any proper document and the cost.
Can the assessee claim any cost of purchase against the sale consideration.
Is there any other option available.
Get the FMV of the property from Sub-registrar office as on 01.04.2001, & take it as COA.
AJAY SINGH AND CO LLP
Thane
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MANUJ SHARMA AND COMPANY
Noida
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Interactive Media Pvt Ltd.
New Delhi
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S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
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CCI
Pro
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