robinsingh (student) (18 Points)
17 June 2022a house is purchased in 2004 (date as per the allotment letter) but it is paid in installments with varying years. so in this case indexed amount should be calculated for different installments ? or it should be calculated for the total amount of acquisition applying just allotment date indexation. ?
also there are number of repairs made to house. in this case should indexation be applied to all cost of repairs or just initial cost of repairs ?
please clarify
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 17 June 2022
Take the indexed cost of acquisition of the date of the agreement.
When you booked the flat and made advance payments an agreement was executed. Take the year of agreement for CII.
Indexation should be applied to all individual repairs which will be added as Cost of improvement.
Rani
(None)
(277 Points)
Replied 17 June 2022
If registration is done after allotment (diff FY), how to add registration charges & stamp duty to cost of acquisition.
In the current ITR 2 utility only 1 row each for date of acquisition and cost of acquisition. Indexed price is calculated by the system. How to include the registration charges and stamp duty in the current ITR utility?
Thanks.
sabyasachi mukherjee
(27574 Points)
Replied 20 June 2022
Aarushi Shah
(3 Points)
Replied 20 June 2022
Without deducting cost of purchase how will you calculate capital gain ?
Here i am asking indexation on cost of purchase. I am not calculting capital gain on purchase.
CAclubindia
