Tax Management India. Com TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals Articles SMS News Highlights
Discussions Forum
Home Forum Income Tax
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

Fair Market Value as on 01.04.1981, Income Tax

Issue Id: - 5278
Dated: 5-2-2013
Fair Market Value as on 01.04.1981

  • Contents

Sir, one of my clainet has sold her property in the asst. 2010-11, which is under scuritiny now, the property was sold for Rs.1.2 crore, This property was settled by the mother of the assessee way back in 1974, Considering the rates prevaling at 01.04.1981, Assessee valeded the land and building as 19 lacs, thereby after applying the indexation there is no long term capital gains, instead there is a long term capital loss, but the Income tax officer is not accepting this.

So, pl clarify is there any way to determine the fair market value of the property as on 01.04.1981,

Posts / Replies

Showing Replies 1 to 1 of 1 Records

1 Dated: 15-2-2013
By:- Sanjeev Sharma

In order to substantiate market value as of 1.4.1981, Valuation report from approved valuer is to be submitted.


Old Query - New Comments are closed.

← Previous Next →
Discussion Forum
what is new what is new

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version