25 August 2020
Hello sir. My mother expired in 2018. Her residential property Acquired in 1976 has been transferred in my name in 2020 being the legal heir. If i sell this property in this year itself ie in 2020 then my que 1. What market value shall be considered to calculate capital gain. Can we consider FMV as of 1-4-2001 to apply CII ? 2. Will the gain be treated as long term gain even if the property was transferred in my name in 2020. Looking forward to your response. Thanks
CAclubindia
