TaxTMI 
TaxTMI 
Sir,
we have sold a property in F.Y. 2014-15 which was purchased in 1960. For calculation of cost of acquisition we wand to adopt fair value as on 01.04.1981. From where can we get such value?
Calculation of cost of acquisition
03 Dec 2014 
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Cost of acquisition valuation: use the official 1981 fair value index and obtain the value from the Registration Department.
Calculation of Cost of Acquisition for a long-held property relies on adopting the officially notified base year fair value and the published index. The annual index is compiled on the basis of base year values, and the Registration Department is the practical source for obtaining the fair value used to determine the indexed cost for capital gains computation. (AI Summary)
Calculation of Cost of Acquisition for a long-held property relies on adopting the officially notified base year fair value and the published index. The annual index is compiled on the basis of base year values, and the Registration Department is the practical source for obtaining the fair value used to determine the indexed cost for capital gains computation. (AI Summary)