Hi
I sold a property in April 2026, which was acquired by my grandfather in 1956, no buy/purchase deed and purchase cost is available
I am unable to get FMV Certificate from valuers as it is very rural property and valuers ask for heavy fee which is not affordable (in view of transaction value)
My grandfather died in 1970, and father died in 1993 & I am a senior citizen
I sold my share of the property in April 2026 for Rs 8 lakhs
Now I want to know can I assume purchase price at Rs 1 only as of year 1956, and claim Rs 19000 towards renovation during year 1993
Can I get indexation benefits on Rs.1 or Rs. 19001 as above, I have already invested Rs 7.1 lakhs in REC Capital Gains Bonds, is it enough or i should invest full amount of Rs 8 lakhs. Further, I have STCL (on sale of shares) during same year of Rs 1 lakh
Pl suggest what to do in this case
Thanks in Advance 🙏
CAclubindia
