How to calculate the cost of acquisition for a property which is bought before year 2000. so how to calculate COA as on 01/04/2001 for the inherited property sold in the year 2023?
Hello @Akhil_Mallipudi,
For the property purchased before 2000, cost of acquisition is the actual cost or Fair Value as on 01.04.2001, whichever is higher. To calculate the fair value, connect with a Registered Valuer. They will issue a Valuation Certificate stating the property’s fair value.
Hope this helps!
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