Capital gain
This query is : Resolved
12 October 2015
compulsory acquisition :
govt Acquire a plot of land 9.00 Are. And consideration of rs. 5000000 received during the f.y 2014-15. this property was Acquired from father on 2.04.1973....
cost of land is not determinable so i adopt market value as on 1.4.1981 rs.50000 per cent.
1. is my decision is right or wrong?
2. can i get indexation benefit on Market value?
3. Wat's the remedy to solve this problem?
pls help
thanking you
govt Acquire a plot of land 9.00 Are. And consideration of rs. 5000000 received during the f.y 2014-15. this property was Acquired from father on 2.04.1973....
cost of land is not determinable so i adopt market value as on 1.4.1981 rs.50000 per cent.
1. is my decision is right or wrong?
2. can i get indexation benefit on Market value?
3. Wat's the remedy to solve this problem?
pls help
thanking you
13 October 2015
Yes yo have to take FMV of 01.04.1981 and indexation benefit shall be available for the same
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