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Capital gain on sale of house

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2017 Dear

Assesee sold a old house property in FY 2016-17, which was bought 10 years back. Land cost can be obtained from the land document. However no records are available for cost of construction and cost of imprvoment .

How to calculate the cost of improvement and construction when no data is available
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
11 August 2017 Cost of construction can be approximate. A valuer could help you in assessing the cost of construction and improvement if you give him the details like year of construction etc. If the value is high and you are claiming higher cost of construction / imprpvement, a valuer's certificate will help in avoiding future issues
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