Cost of improvement - capital gain
This query is : Resolved
28 May 2019
An individual purchased land and house together for Rs.30lakhs on 5/6/2015. He incurred Rs.5lakhs improvement cost on the house property. On 4/10/2018, he demolished the house and sold the land. Can the cost of improvement of Rs.5lakhs be considered for capital gain, as the house have been demolished before sale of land?
29 May 2019
Yes, you can claim Cost of improvement.
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