COST OF ACQUICISION FOR CAPITAL GAINS
This query is : Resolved
20 January 2009
My client has purchased a land for Rs. 5.00 lacs and has paid stamp duty on the sub-registrars value which was 15 lacs. After 3 years he has sold the property for 30 lacs.
My question is, for the purpose of calculation of capital gains, the cost of acuqicision is the actual payment of Rs. 5 lacs or the sub-registrars value of Rs. 15 lacs.
My question is, for the purpose of calculation of capital gains, the cost of acuqicision is the actual payment of Rs. 5 lacs or the sub-registrars value of Rs. 15 lacs.
21 January 2009
cost of Acuqicision = Rs.5 Lac + Stamp duty + Registration Charges + any other expenses made for land during the 3 years
21 January 2009
Yes, Mr. Mukund has replied it briefly but correctly.
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