Long term gain on inherited property

My mother had bought a property  in 1986-87 for 3600. She died two years ago and property has been transferred to my name. I got evaluation done by govt approved evaluator. He has given a base price of 103680 as on 1 st April 2001. As per cost inflation index the index was 100 at that time and is 272 for the year 2017-18. As per this the cost of land is 282000 approximately. The stamp value of the land as of today is 27 lac The sale value for consideration is around 45 lacs. I need to know that whether my capital gain would be 45 lacs minus 2.82 lacs or 45 lacs minus 27 lacs

Replies (4)

Capital gain would be 45 lacs (whatever agreement value) minus 2.82 lacs, appx.
 

Thank you sir for your information and guidance

Most Welcome......

Capital gain would be 45 lacs minus 27 lacs, (subject to indexation )

https://incometaxmanagement.com/Pages/Tax-Ready-Reckoner/GTI/Capital-Gain/18-Special-Provision-for-full-Value-of-Consideration-in-certain-cases(Section-50C].H T M L

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