19 December 2011
I bought a property (flat) in Dec'2007 for Rs. 10 Lacs. I have sold it in Nov'2011 for Rs.20 Lacs.
I had spent approx Rs.1 Lac on flat modifications like tile, plumbing, fittings etc. But I do not have receipts for this expense. The payments were made to contractor in cash.
While calculating the capital gains, can I include this cash expense in purchase cost of property? Or only expenses with proper proof only can be claimed as part of cost?
I have to invest the capital gain in 54EC bonds of REC.
CAclubindia
