Capital Gain
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2009
My client has sold some of its house property for which incurred cost of improvement of Rs 145000.00,
The total area of House propert is say 3.5779 Acres and it has sold 1.6 acre in 2008-09, but incurred cost of improvement in the financial year 2009-10 when he sold .359 acres from the balance property.
What is the way to avail the cost of improvement for the part of property sold in financila year 2008-09 i.e. 1.6 acres.
Beacause my cllient promised all buyer to provide that facility at the time of sale in 2008-09. Please guide me on what stand i can get deduction of that proprtionate part of property sold before incurring of cost of improvement.
Thanks & Regards
The total area of House propert is say 3.5779 Acres and it has sold 1.6 acre in 2008-09, but incurred cost of improvement in the financial year 2009-10 when he sold .359 acres from the balance property.
What is the way to avail the cost of improvement for the part of property sold in financila year 2008-09 i.e. 1.6 acres.
Beacause my cllient promised all buyer to provide that facility at the time of sale in 2008-09. Please guide me on what stand i can get deduction of that proprtionate part of property sold before incurring of cost of improvement.
Thanks & Regards
23 December 2009
File revised return for 2008-2009 with claim of cost of improvement. Attach some document which can prove that cost is incurred for that particular area which is sold in 2008-2009
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
