24 December 2008
my client received gift a plot from friend and my client incurred gift deed & other expenses. such expenses are treated as cost of improvement or any thing else. what is the treatment of this expenses at the time of calculating capital gain
24 December 2008
Stamp duty paid in connection with registration of deed is in fact a cost of improvement on the plot and is a capital expenditure. The same is a component of the cost of acquisition to be taken into account at the time of sale of the plot.
CAclubindia
