capital gain
This query is : Resolved
07 February 2011
whether stamp duty paid on purchase of building is included in cost of acquisition for the purpose of capital gains?
CA PARAS BAFNA
(Expert)
07 February 2011
It is included in the cost of acquisition.
Guest
Guest
(Expert)
07 February 2011
Stamp duty paid on purchase of assets is part of cost of acquisition
07 February 2011
thanks for answering but can you tell me under which section of IT act it becomes part of cost or is there any judgment of court?
CA PARAS BAFNA
(Expert)
07 February 2011
It's according to normal practice adopted world wide. You may find the cost of acquisition in reference to various items by following the link -
https://www.allbusiness.com/glossaries/acquisition-cost/4942742-1.html
https://www.allbusiness.com/glossaries/acquisition-cost/4942742-1.html
Guest
Guest
(Expert)
08 February 2011
It is well established fact. Morever, you can have little more inspiration and support from the the provisions of sec. 80C(2)(xviii)(d)
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