Capital gain tax
This query is : Resolved
22 July 2020
Sir I purchased a property and constructed some floor and sold within 1 year. I have never mentioned cost of construction in my sale agreement. So my property is in capital gain tax so can I claim cost of construction as expenses in capital gain coloumn. Is their any documents required to show the expenses in it return
22 July 2020
Yes . Construction cost can claimed ..
Documents can be bills or payments made in regular intervals
22 July 2020
You may claim it as cost of improvement
19 December 2021
No documents are required to be attached with ITR filing, but to be produced whenever called for.
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