21 January 2009
for a residential house what shall be the cost for capital gain calculation 1. actual amount paid i.e. 7 lakhs 2. amount recorded in sale deed i.e. 3 lakhs
22 January 2009
I assume that the actual amount paid does not mean to include any unaccounted cash payment or black money. In such a case the cost of acquisition shall be the actual amount of Rs. 7 lac paid as consideration and the stamp duty paid as per the deed. However, it appears that Stamp Duty has not been paid in full which may be a cause of penalty proceeding under the relevant Act.
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