09 March 2012
hello members The issue is as follows: A property was acquired by the Government during the FY 2010-11 and compensation paid to the assessee Mrs.A. The property was transferred to the assessee Mrs.A, on the death of her husband. The husband Mr. A , had received the property ( the property relates to their grand/great grand father's)on partition of the property during the early 1950s. So in order to compute the Capital gains, we need the fair market value as on 01/04/1981. Require your valuable opinion on how to arrive at the FMV as on 01/04/1981.
CAclubindia
