January 30, 2014 3:52 pm
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?
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.
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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