24 February 2010
Yes, it is necessary to have documentary evidences for ascertaining the cost of the property and the expenses related such as brokerage, stamp duty and other charges. Without the documentary evidence it is difficult to ascertain the cost and to arrive at the capital gain earned on the same.
24 February 2010
Yes, you must have documents. In scrutiny A.O. will approach to valuation officer and based on his valuation you have to pay the capital gain tax.
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