Capital gains

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

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.

Thanks in Advance

CA. AVINASH MANDOWARA

CA. AVINASH MANDOWARA (Expert)
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09 March 2012 As per the value of nearyby property as on 01/04/1981 or any transaction which is held neary by 1981 the price of that property.

With the support of above document you value your property by VALUER for income tax purpose.