Capital gains fmv

[Vasudevan T]

Whether the fmv forbuilding existing as on 1-4-1981 later demolished would qualify for indexation along with land value when sold later

[DR.MARIAPPAN GOVINDARAJAN]

Indexation may be qualified for the land value, in my view.

AI Summary

Indexation of capital gains: building FMV on base date may not qualify, while land value indexation may apply. Question whether the FMV of a building present on the base date and later demolished qualifies for indexation when the land is sold; the reply states that indexation may be applied to the land value, distinguishing the land component's treatment for capital gains indexation from the demolished building's historical FMV.