Valuation Of Property In 2001. Guideline value is 400/ sqft as on 1.4.2001. In case of covered parking, 25% of the ready reckoner value shall be multiplied by the area and in case of open parking 40% of the ready reckoner value (for land) shall be multiplied by the area.
In such a case, a person is entitled to adopt any of the following as the valuation date value: To make new provision in relation to the. I found another sale within same area ( neighbour street) for 480.
For Properties That Are Acquired Prior To April 1, 2001, You Have The Option To Take The Fair Market Value Of The Property As Of April 1, 2001, In Place Of The Cost Of Acquisition.
Devashish / published on : Fair market value of property purchased before 1/04/2001. Ca sumit ramesh bharadia (querist)follow.
But If You Have Got This In Gift From Someone Who Purchased It Before 1 April 2001 Or If It It Ancestral Property , Then In Both These Cases You Will Have To Take Dlc Of 1 April 20001 As Your Cost.
It takes all of 2 minutes to do and then the op can have a look at the sales and work out which 3 are the most comparable and use them to determine what the market value of their own property was likely to be in 2001. The property was purchased for rs. Method of determining property's value under section 28 (4).
Pooja Makwana (Ca Final Student) (31 Points) 29 October 2021.
27 & 28 vict., c. The capital gain would be the difference between the selling. 13 may 2018 an assessee bought a house property in 1994.