Capital gain on sale of house
This query is : Open
Querist : Anonymous
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
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
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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