Capital gain in 1980

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(Querist)
17 January 2024 SIR
MR A SOLD ONE LAND IN 2015 COST OR RS. 1,.65 LACKS. THE LAND HIS GET HIS FROM GRAND FATHER WILL. THE LAND PURCHASES AS ON 1880. HIS WORKING CAPITAL GAIN TAKE LAND COST PER CENT RS.5000/- BUT THE IT DEPARTMENT HAS TAKE INDEX COST RS.80/- PER CENT THE ASST -YEAR COMPLETED U.S 143 WITH DAMNED AS ON 15.12.2.023 . BUT HE APPLIED GUIDE VALUE FOR TAMIL NADU REG.DEPT . THE REG.DEPT NOT PROPER REPLAY FOR NOT RECORDS AVAILABLE . PL. GUIDE FOR PROBLEM SOLVE
THANKS
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 January 2024 Market value as on 01-04-2001 with indexation has to be considered as cost.
Ask IT department how they worked out the cost.

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