prashant desai (190 Points)
30 September 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14811 Points)
Replied 30 September 2020
As per new Indexation Chart from 2001-2002 = 100
For year of property sold 2020-21 = 301
You have purchase in 1984 , so as new Index chart you have take base year as 2001
Just confirm form Income Tax web site - www Incometax .gov.in
prashant desai
(190 Points)
Replied 02 October 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14811 Points)
Replied 02 October 2020
No , you have to find out the value of property from registered valuer in 2001 and then consider Index value 100 for year 2001-2002 as a base .
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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