Fmv of inherited property on 01-04-1981
yogesh pancholi (chartered accountant) (25 Points)
04 September 2016yogesh pancholi (chartered accountant) (25 Points)
04 September 2016
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184781 Points)
Replied 04 September 2016
Government Approved Valuer!!
ANKUR TAH
(Teacher Consultant and CA finalist.)
(543 Points)
Replied 04 September 2016
Basically fair market value is consider on the basis of sale of similar property on that time in absence of that municipality valuation or engineer valuation require.
After amendment in finance bill 2012-13, it specified that Assessing officer shall consider the cost of acquisition only of valuation report of registered valuer to calculate long term capitail gain.
You may communicate with relvant sub-registrar office/ valuation registered office for calculation of market value of land & building and appoint a chartered engineer for calculation of valatuion of building. it is not a standard method. it's dependent on fact of case.
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