Menu
Long term capital gain
Property purchased in 1980 @ 120000 , sold in 2018-19 @ 9700000.but indexation benefits is available from 2001. which is leading in more tax liability, My question is that whether we have to take purchase value only or we can take registered valuer valuations as on 2001 and calculate tax accordingly.
Replies (2)
Yes, you can take registered valuer's valuation as of 2001-02 to calculate LTCG.
As per rules value shall be adopted purchase cost of Fair Market Value whichever is Higher on 2001-02,,,and LTCG On 634000 @ 20%
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
