Dear CCI Members
I would like to know that how can i asses property value for capital gain, if property purchased in 1956 and sale out in 2013. i already know that, in that case we always taken fair market value of 1981. But my question is that from where i get the fair market value.....
Write an application to the registrar who has jurisdiction over the property
Ask for the price at which similar property was purchased on/near same date.They will give you certain values like 50 meters registered for say 10,000, Calculate the WEIGHTED AVERAGE rate per meter/sq feet and apply same to your property
CAclubindia
