Capital Gain
This query is : Resolved
CA Milap Mehta
(Querist)
24 February 2010
Is it necessary to have documentary evidences (Purchase & Sale Deeds)of sold property for the computation of Capital Gain?..
Sohil Ganeriwala
(Expert)
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.
CMA Ramesh Krishnan
(Expert)
24 February 2010
yes.you need to have evidence for CG
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.
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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