Capital gain

This query is : Resolved 
 


Querist : Anonymous (Querist) 13 September 2017

Hi,

I have sold a property located in Mumbai in the year 2014 and i want to claim the cost of improvement made in 1992 and 2001 worth INR 8 lacs and 14 Lacs respectively to the property.
However, I do not have invoices/supports for cost of improvement which had taken place as it is almost 20 years back.

Can anyone please guide me on the course of action and how can I prove that the improvement has taken place ?


Amol S Joglekar (Expert)
13 September 2017

making Affidavit is one way of proving the same.
Secondly, if the improvements are still very much there in the property, you can take the valuation by Govt Approved Valuer.

K Srinivas, CMA CS (Expert)
13 September 2017

Yes. Taking valuation from a Govt approved valuer will be enough. It is cost effective too.



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