Capital Gain Query on Sale of Parental Property

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  1. eswar kumar

    eswar kumar New Member

    My father purchased a house property in 1913 and he did some development for the property in 1968 and the same will be shared by 3 sons including me and 3 daughters after his death, the property came into our hands after his death in the year 1983,
    Other 2 brothers and 3 sisters gave a release dead to me in the year 2013 saying that i can solely sell the property at my own desecration and the property is sold in the year 2014.

    Now my question is what will be my holding period and what amount we will consider for cost of acquisition ..........?????

    Thank you for giving a valuable suggestion
     
  2. Neha Sharma

    Neha Sharma Active Member

    Dear @eswar kumar

    The period of holding would be 101 years i.e. from 1913 to 2014

    As the property was purchased before 1981, the Fair Market Value (FMV) as on 01-04-1981 would be considered and indexed benefit would be applied accordingly on FMV
     
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