Capital gain

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Jayanth Reddy (Querist)
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14 December 2015 Mr.A and Mr.B sold a plot of land on 25-09-2013 for Rs. 734000/- (equal share). They had purchased it Rs. 86000/- on september 2007.
cost of improvement Rs. 54000/- on august 2009. but Mr.A and Mr.B not have (proof)details of cost of improvement, please guide me on this whether consider cost of improvement or not on calculating long term capital gain. TAXABLE AMOUNT ?
please suggest me as early as possible

Ankur Singhal

Ankur Singhal (Expert)
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15 December 2015 Dear Jay

The amount is small amount. you can justify the improvement by the cash withdrawn by the assessee during the relevent or any other previous years.

No proof here do not create a problem.

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Jayanth Reddy

Jayanth Reddy (Querist)
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15 December 2015 Thanks for information sir.

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