capital gain

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Dharmen (Querist)
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07 February 2011 whether stamp duty paid on purchase of building is included in cost of acquisition for the purpose of capital gains?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 February 2011 It is included in the cost of acquisition.

Guest

Guest (Expert)

07 February 2011 Stamp duty paid on purchase of assets is part of cost of acquisition

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Dharmen

Dharmen (Querist)
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07 February 2011 thanks for answering but can you tell me under which section of IT act it becomes part of cost or is there any judgment of court?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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07 February 2011 It's according to normal practice adopted world wide. You may find the cost of acquisition in reference to various items by following the link -

http://www.allbusiness.com/glossaries/acquisition-cost/4942742-1.html

Guest

Guest (Expert)

08 February 2011 It is well established fact. Morever, you can have little more inspiration and support from the the provisions of sec. 80C(2)(xviii)(d)

Dharmen

Dharmen (Querist)
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19 February 2011 Thank you sir.....