Sir
Good Morning to all of you One of my query is that My friend purchase a land on year 1990 and now he want to sold this land in in this f.y 2018 october. But sir problem is that he have not any land purchase document means no purchase value related data like sale deed etc.than sir what he will show in purchase value at the time of capital gain please please ?????
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Regarding Capital Gain
Replies (9)
Get valuation certificate of the land as on 01.04.2001, from Government Approved Valuer.
Rate will 20% on LTCG ?????
Yes, after indexation benefit and any exemtion claimed u/s. 54EC or 54F
Yes, after indexation benefit and any exemption claimed u/s. 54EC or u/s 54F of IT act.
but sir how to get government approval value for land purchase ???
From Approved Valuer..........
from where he can find one?
incometaxindia/IDS-2016/IMMOVABLE-PROPERTY
Thank You for your meaningful reply
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