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Stamp duty paid on flt purchase

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)

06 June 2017

1. Please let me know whether stamp duty paid on purcahse of flat is a part of Cost of Purcahse for capital gain calculation.

2. flat is allotted on Nov 2009 after paying booking amount, but constructed, compete & registered in the name of buyer in Nov 2016. & sold in April 2017. So it is LTCG or STCG. plz quote relevant judgement also for under constructed flat . The Case is of Haryana jurisdiction.

3.If LTCG is there , then whether Indexation is to be given on Installment wise or from date of allotment

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2 Replies

VIAKS CHOUDHARY (STUDENT) (31 Points)
Replied 06 June 2017

Date of allotment is relevant, so its a Ltcg and no indexation is not to be given installment wise...it will apply on the price fixed as on date of allotment

Sanjay S (Chartered Accountant) (1375 Points)
Replied 06 June 2017

Q1. Cost of acquisition in respect of flat purchased from builder is not merely the consideration (base price of the flat) referred to in the sale deed. It will also cover various charges paid by assessee to the builder such as fire fighting charges, generator charges, processing fee and other miscellaneous charges, stamp duty as per the agreement without payment of which assessee could not have obtained the conveyance deed in his name.- Praveen Gupta v. ACIT - ITA No. 2558/Delhi/2010; Asst. yr. : 2007-08.