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?
The process of filling tax returns doesn't require you to attach documents but they can be asked by department during assessment proceedings.
CAclubindia
