Can i include stamp duty for cost indexation
This query is : Resolved
01 January 2018
I sold my old Flat in oct 2017. I had purchased it 18 years back for Rs 5 Lakhs and had paid Stamp Duty of Rs 50,000 then.
To calculate my taxable capital gain, I want to determine the ‘Cost of acquisition with indexation’.
1. Is it Correct that I can INCLUDE the Stamp Duty of Rs 50,000 along with the cost (for a total of Rs 5,50,000) for the purpose of calculating the Cost of acquisition with indexation ?
To calculate my taxable capital gain, I want to determine the ‘Cost of acquisition with indexation’.
1. Is it Correct that I can INCLUDE the Stamp Duty of Rs 50,000 along with the cost (for a total of Rs 5,50,000) for the purpose of calculating the Cost of acquisition with indexation ?
01 January 2018
Yes, your understanding is correct.
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02 January 2018
You can include incidental expenditure for cost of acquisition with indexation to arrive present value.
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