How to find Capital Gain for a house whose purchase price is not known ?

POSTED BY tsshah ON January 30, 2014 3:52 pm COMMENTS (2)

Dear Sir/Madam,

My forefathers home around 65 years old is sold in 2013. Purchase price is not known to us. Kindly inform, how to calculate capital gain tax in absence of purchase price?

 

2 replies on this article “How to find Capital Gain for a house whose purchase price is not known ?”

  1. ashalanshu says:

    Dear TSShah, please contact Govt. approved valuers in your city to provide the valuation of the said property in April 1981. Once this value is there with, you can calculate your tax liability.

    Thanks

    Ashal

  2. divya.advisor says:

    contact a CA or a lawyer dealing in income tax. they will guide you in getting a letter from some local authority on the format.
    I am not sure what was the proof you had to claim ownership on the house that you sold.

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