capital gains
lohitha.surisetti (Student CA IPC / IPCC) (220 Points)
27 May 2018lohitha.surisetti (Student CA IPC / IPCC) (220 Points)
27 May 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 28 May 2018
The cost of aquisition of land will be the cost to your father if purchased after 2001. OR the FMV as on 01.04.2001, if purchased before that.
For calculation of capital gain FMV of land as on handing over possession to developer or construction cost of the 3 flats is necessary.