Suppose there is piece of land that inherited by Mr. X to his son Mr. Y then Mr. Y inherited the same land to his son Mr. Z.
Mr. Z constructed a house on it and sold the house in 2016.
Actual date of purchase and price of property is not available.
how can we calculate Cost of Acquisition in this case.
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Regarding Cost of Acquisition of property
Replies (4)
By valuation of the land (or property, if constructed before 2001) as on 01.04.2001, from registered valuer.
construction had been made after 2000
Indexation of construction cost to be calculated from the date of its completion certificate.
As the property is sold in 2016 (properties sold before 2017 valations is done for 1981 and properties sold after 2017 valuation is done for 2001) the valuation of land and building shall be taken as on 1981.
laxmikant surve
Govt. Reg. Valuer
laxmikantsurve9 @ gmail.com
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