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RaagVamdatt.com - Your Queries
Category: Main -> Real Estate
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want to calculate the LTCG tax on sale of residential house:
Land purchased in 1975 there after constructed house (3000 sft)in 1989-90. I know the value of the land which was purchased by my parents form the registeed sale deed. But have not document of the value of the house with they constructed in 1990. I have no records or information.
How do I calculate the LTCGT.Please explain step by step procedure.
Is there any website where I can get cost of construction of 1990
Land purchased in 1975 there after constructed house (3000 sft)in 1989-90. I know the value of the land which was purchased by my parents form the registeed sale deed. But have not document of the value of the house with they constructed in 1990. I have no records or information.
How do I calculate the LTCGT.Please explain step by step procedure.
Is there any website where I can get cost of construction of 1990
Hi Mehul,
The best option for you would be to go to a registered valuer.
a registered valuer would find out the cost of construction of the house in 1990, and would also find out the fair market value fo the land.
The value arrived at by a registered valuer is also accepted as valid and authentic by the department of Income Tax.
You can find a valuer in your city by looking for it on any search engine (www.google.co.in, for example).
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