The seller does not have sale deed of the flat purchased in 1993 by his father. So seller got a Valuation Report done for 2001. The value that the Government Approved Vauler came up in this report is a certain figure.
Now while calculating the Capital Gains Tax should this figure as per Valuation Report for 2001 be deducted from the Sale Price or will it be indexed and then the indexation value be deducted from the Sale Price?
CAclubindia
