14 March 2009
One of my client purchased flat in 2003-04 for Rs. 6,35,000/- & made furniture of Rs. 1,75,000/- in the year of purchases.Now he decided to sale that flat in March 2009 @ Rs.17,00,000/-, So my queries are as follows: 1)Is it benificial to sale Flat in the month of March 09 or postpone this decision in next F.Y?
2)Can we take advantage of furniture cost as cost of improvement, if deceision is to sale that flat as furnished flat?
3)Hoe we minimize long term capital gain tax ?
4)Is it necessary to mention flat amount & furniture amount separatly in the Sale Deed?
CAclubindia
