Rebate under section 54

P.C. Chaturvedi (REtired Electrical Engineer)   (70 Points)

10 June 2014  

I have sold my house and Long term capital gain is used for purchase of new Flat. My question is for availing the exumption under section 54, cost of aquisation is limited to the value of flat as stated in the agreement with the builder OR I can add the amount over and above this, the cost of additional amount to be spent for completing the house (like modular kitchen, meshed doors and other wood work)