How to calculate Property Value as on 01-04-1981

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  1. Ashok Parekh

    Ashok Parekh New Member

    During this FY 15-16 I have sold a commercial property held since 1978. How can I get the original purchase value in 1978 as it was inherited by my HUF in 1978 after my father's consent. How can I calculate the capital gain from 1978 to 2015 i.e after 35 years. Ashok
     
  2. Sumit Agarwal

    Sumit Agarwal Active Member

    Take the market price as on 1981 and calculate the gain after indexation.
     
    Karan Batra likes this.
  3. Ashok Parekh

    Ashok Parekh New Member

    Will the IT dept accept any market price. How to authenticate
     
  4. Sumit Agarwal

    Sumit Agarwal Active Member

    You can take valuation report from a registered valuer.
     
  5. Ashok Parekh

    Ashok Parekh New Member

    It seems to be top secret. The market price/guideline value is divulged only from 2002/03 in Chennai. Noway to get the guideline for 1981. Can the Income Tax dept give the information. Who is approved valuer.
     
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