04 August 2010
I own an inherited property which was purchased by my father in the year 1955. If now, I want to sell this property, how to compute the cost of Acquisition while calculating capital gain? Please clarify in detail
05 August 2010
Cost of Acquisition can be claimed on estimation basis(take idea of FMV) on the date of 1-4-1981, because the same is actually will be available to you.
and definitely, Actual COA will be less then FMV as on 1-4-1981.
CAclubindia
