Family Guy (b) 03 March 2020

Finding surevy number

The records published for 2001 (ready reckoner) for Pune, does not contain survey number for a property that was purchased in 1993 and sold in late 2019. It has been subsequently included in the later years. However, for the purpose of finding fair market value, the evidence of the then circle rates is needed so that the LTCG calculation and Bond investment amount is passed by IT authorities. How is the base rate ascertained in such cases? can an expert in taxation and/or property law advise on this? Thanks.

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Quick Summary

A property owner in Pune purchased land in 1993 and sold it in 2019. The 2001 records lack the necessary survey number for calculating capital gains tax and bond investments. The user is seeking advice on how to determine the property's base rate for tax purposes when the survey number is missing from historical records. Suggestions include obtaining a valuation certificate from a property dealer or approaching the PWD and revenue departments, or checking the sub-registrar's office for government property values.

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Real Soul.... (LEGAL) 03 March 2020

You need to get a valuation certificate for the proeprty and in that case only any property dealer can help, or you can approach to your concerned PWD department and revenue department for Buliding (if any) and for land respectively. The value will be accordingly assesssed by taxation department.

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