Dear ALL sale value consideration for my flat is Rs.68L. The house is 47 years old. i purchased it about 18 years back. todays Guide line value for the UDS is 72 L. i am given to understand that irrespective of actual sale amount CG tax will be applicable for the balance amount after adjusting indexed purchase & indexed repairs. This raises a serious ethical question. There are many old houses which will never fetch the market value. Can the GOVT force the individual to pay tax irrespective of the actual reality?
