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long term capital gain
mr X was purchased the land in 1988.it was gifted to his son y on 2012..now he is willing to sell the land...what should be the purchase price??
Replies (14)
as per my view price will be taken of Mr X as he gifted the property without adequate consideration further for capital gain calculation in assessment year 17-18 indexation value will be considered from Year 2000
he was purchased 1988 for rs7000..in 2000 guidelines value 3.8 lakhs..market value around 11 lakhs...what is the value taken for consideration??
he was purchased 1988 for rs7000..in 2000 guidelines value 3.8 lakhs..market value around 11 lakhs...what is the value taken for consideration??
Since land was purchased before 01.04.2001; fair market value as on 01.04.2001 shall be taken as cost of acquisition for calculating capital gain for A. Y. 2018 -19.
Since land was purchased before 01.04.2001; fair market value as on 01.04.2001 shall be taken as cost of acquisition for calculating capital gain for A. Y. 2018 - 19
Since land was purchased before 01.04.2001; fair market value as on 01.04.2001 shall be taken as cost of acquisition for calculating capital gain for A. Y. 2018 - 19.
Since land was purchased before 01.04.2001; fair market value as on 01.04.2001 shall be taken as cost of acquisition for calculating capital gain for A. Y. 2018 - 19.
thank you sir...in 2001 Government Guide line value for I cent Rs.10000..but market value RS.50000..if we put market value purchase price going over sale price..so we confuse..it is acceptable or not
It doesn't matter. In that case there will be long term capital loss.
I need any proof for market value...??
You have to consult valuation expert for that..
thank you sir..
Cost of Acquisition shall be the Cost of Purchase by previous owner
or
FMV as on 1.4.01
whichever is beneficial to the owner.
WEH.
or
FMV as on 1.4.01
whichever is beneficial to the owner.
WEH.
Cost of Acquisition shall be the Cost of Purchase by previous owner
or
FMV as on 1.4.01
whichever is beneficial to the owner.
WEH.
or
FMV as on 1.4.01
whichever is beneficial to the owner.
WEH.
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