Capital gain tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 October 2017
How do we calculate long term capital gain on sale of property if the cost of acquisition of the property is not known at the time of sale? Also pls let me know what is the rate of tax with indexation and without indexation? The property is an ancestral property and it has been transferred after mutual consent for consideration and no documents have been made for it. Only stamp paper of Rs 100 are used to document the sale. Is it valid or not? Plzz help me with the query.
Thanks & Regards
Thanks & Regards
Amol S Joglekar
(Expert)
24 October 2017
it is valid subject to section 50C.
You can take the value as on 01/04/2001 for cost of acquisition.
You can take the value as on 01/04/2001 for cost of acquisition.
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