WebMay 5, 2024 · Section 55 (2) (b) (i) provides that where the capital asset has became property of the assessee before 01.04.2001, then the cost of acquisition of such an asset will be the actual cost to the assessee or fair market value as on 01.04.2001 at the option of the assessee. The assessee can opt for either value. B. WebJan 13, 2024 · 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.
How to Arrive at a Property’s Fair Market Value - Navi Mumbai …
WebDec 13, 2024 · 1. Whether valuation is compulsory required as on 01.04.2001. 2. If we take the valuation as the circle rate , it suffices. 3. Customer has suggested that if we take the valuation as on 01.04.2001 as zero then whole the sale amount is treated as capital gain and exempt from the purchase of another property. WebOct 17, 2024 · Cost of acquisition (i.e. ₹ 2.2 lakh) or FMV as on 1 April 2001 (at your option) / cost inflation index (CII) of FY02 (i.e. 100) x CII of year of sale (CII prescribed for FY22 is 317). Further ... northern soul record dealers uk
Computation of Cost of asset acquired before 1st April, …
WebMay 5, 2024 · Section 55 (2) (b) (i) provides that where the capital asset has became property of the assessee before 01.04.2001, then the cost of acquisition of such an asset … WebMar 17, 2024 · Accountant and GST Practitioner . ) (12114 Points) check out on web site Income Tax . gov.in you will get indexation chart and fair market value on 2001 you have … http://expertspanel.in/index.php?qa=9321&qa_1=fmv-as-on-01-04-2001-for-the-purpose-calculation-capital-gains how to run iso windows 11