fair market value

Understanding capital gains calculation on inherited property: Key considerations for selling a plot of land

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Understanding capital gains calculation on inherited property: Key considerations for selling a plot of land

My late father bought a plot of land in 1999. The exact cost he paid is not available. He gifted it to me in August 2022 through a duly executed gift deed on which proper stamp duty was paid. Now, I am planning to sell this plot for two Crore rupees in November 2024. Can … Read more

FMV, circle rates and capital gains: A guide for property sellers

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FMV, circle rates and capital gains: A guide for property sellers

The list of valuers registered with the Income Tax Department for valuation of immovable property is generally uploaded by the chief commissioner of income tax in charge of the particular region and can be found on the income tax website.  However, it is not mandatory to obtain the value as on 1 April 2001 from … Read more