I-T department clarifies acquisition cost of real estate bought before 2001 for LTCG calculations, ET RealEstate
NEW DELHI: The cost of acquisition of real estate properties purchased before 2001 will be the fair market value (FMV, not exceeding the stamp duty value) as of April 1, 2001, or the actual cost of the land or building for the purpose of calculation of long-term capital gains (LTCG) tax, the I-T department has …