Mahesha (Manager-Sourcing) (110 Points)
06 June 2007Hi,
Can any one help me in providing the info for the below:
While arriving the capital gains during sale of residential house what kind of documentary proof need to be submitted to avail the deduction for "Cost of improvement". Cost of improvement incurred towards the mosaic flooring from the traditional red floor.
Mahesha M
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 21 May 2008
Bill or receipt or acknowledgement is required to substantiate the claim for improvement
Jaindeepak
(52 Points)
Replied 21 May 2008
Obtain a Detailed Estimate/Valuation Report from any Income Tax Approved Valuer whereby the detail of construction and improvement/s will be certified by the expert. This will serve the purpose in want of relevant vouchers/receipts etc.
Mohit
(Manager)
(36 Points)
Replied 27 December 2010
Dear Sir
Can any one help me in providing the info for the below:
whether we can show that we have paid bills in cash to the contractor.Pls help?
CAclubindia
