LTCG Cost of Improvement

Save Share

This query is : Resolved

Quick Summary

If you've sold a property and are looking to reduce your Long-Term Capital Gains (LTCG) tax, you may be able to claim certain improvement costs. This includes expenses for renovations, such as painting and plumbing, as well as structural alterations like incorporating a balcony. Crucially, you will need valid bills and payment receipts to substantiate these claims.

sundeep

sundeep (Querist)
Follow

25 April 2025 I sold an apartment in a 30-year-old building after holding for 23 years in April 2025 to cover my daughter's marriage expenses. Can I show improvement costs after indexation to reduce LTCG? I had about 8 tenants during this 23-year tenure. For every new tenant, I got the apartment freshly painted with minor plumbing works like changing taps, doors, and commode, etc. Can I take these expenses for improvement costs?
During 2002, before occupying the apartment by doing a vastu pooja. I made a few alterations to the walls and included the balcony in the master bedroom to get more carpet area. Can these costs be included towards improvement?
Please advise In detail?