FMV (Fair market value ) as on 01-04-2001

Roshni (Student CA Final ) (103 Points)

13 January 2020  
FMV (Fair market value ) as on 01-04-2001

An Assessee bought a house property in 1985. He wants to sell the same now. In order to compute Long term capital Gains the assessee can take indexation benefit by taking cost of acquisition as purchase price or FMV as on 01-04-2001.

How can one arrive at FMV as 01-04-2001

Cost of acquisition= Rs.90,000
Date of Purchase =1985
Cost Inflation Index
2001-02 = 100
2018-19 = 280

Calculate FMV as on 01-04-2001?