Capital gains for inherited property
Querist :
Anonymous
(Querist) 29 March 2021
This query is : Resolved
I inherited land in 1998 from my parents (after their death) which was inherited by my father from his father(my Grand father). My grand father was the first Diglot Pattadar from the then Government.Now I want to sell the property. This land is declared by Government as Agricultural Land suitable for House sites. In my understanding I can not claim this as non capital asset. If I have to compute the CG how do I get the cost of acquisition.
Thank you
Sankaranarayanan
(Expert) 01 April 2021
Show your property details with local Charted accountant and tax lawyer and ascertain the reality and act accordingly
