capital gain

This query is : Resolved

shrishail (Querist)
Follow

16 April 2011 Dear Sir,

I have purchased one house (in resale) for Rs. 360000/- in 2003-04

During the current year 2011-12 i have sold it for Rs. 1390000/-. The indexed cost of acquisition is coming around to Rs. 552829/-

So there is a Capital Gain of Rs. 837171/-

Also note that i don't want to purchase new house or invest in government bond

Pls advice which other expenses i can claim to avoid such a huge Capital gain

I am in confuse. Please advice some body

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

17 April 2011 1. Stamp duty, registration fee etc can be added to the cost of acquisition.
2. Any improvement cost, like change of flooring or tiles or any significant alteration has been made by you can be considered as cost of improvement.
3. Brokerage.