Hi respected everybody,
I purchased a plot costing INR 1 Lakh in 1990. I constructed a house in that later on. I do not have any proof of the amount I spent for constuction but about INR 20 lakhs I spent for constuction/improvement. Now I want to sell the house. Can I show 21 lakhs as cost of acquisitions?
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Calculation of Improvement cost LTCG
Replies (3)
The process of filling tax returns doesn't require you to attach documents but they can be asked by department during assessment proceedings.
Sir, My query is whether I can show the cost of construction/improvement without any documentry proof as cost of acquisitions while calculating LTCG.
Sir, My query is whether I can show the cost acquisitions including the amount I spent for construction/improvement without any documentry proof while calculating LTCG or not?
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