Can anyone advise on how to calculate capital gains on an ancestral property in the below notice. It was acquired years back. The property is in the name of 5 members however notice in one person.
Dear KANJIRANGADAN PADMINI - Income Tax Department has received information about Sale of immovable property of 3362500 relating to XXXXX8319X in FY 2018-19. However, as per records available, ITR for AY 2019-20 has not been filed. Please file your ITR by 30.9.2020. You can view transaction details and submit online response under e-Campaign tab on Compliance Portal (https://compliance.insight.gov.in) - ITD