Under Indian Income Tax law, if you sell a property acquired before April 1, 2001, you can use the Fair Market Value (FMV) as of that date to determine your cost of acquisition. The Economic Times : The FMV cannot exceed the property's Stamp Duty Ready Reckoner value as of April 1, 2001. Tax Benefit
Before 2001, a famous halwai shop on Dadar’s Tilak Road had "business value." The 2001-02 RR stripped that out. It valued land and structure only. This led to the brutal corporate takeover of Mumbai retail. If a small shopkeeper’s goodwill was worthless on the RR, a bank wouldn’t lend against it. A mall developer would. ready reckoner 2001-02 mumbai
Under Indian income tax law, if a property was purchased before April 1, 2001, the , is used as the cost of acquisition for calculating capital gains. The 2001-02 Ready Reckoner is often used as a direct proxy for establishing this fair market value. 2. Legal Documentation Under Indian Income Tax law, if you sell
: The RR rate for residential units in village Kandivali West was approximately ₹18,000 per sq. mt. on built-up area (BUA) in 2001. It valued land and structure only
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