Capital gain tax
This query is : Resolved
Quick Summary
22 July 2020
Sir I purchased a property and constructed some floor and sold within 1 year. I have never mentioned cost of construction in my sale agreement. So my property is in capital gain tax so can I claim cost of construction as expenses in capital gain coloumn. Is their any documents required to show the expenses in it return
Eswar Reddy S
(Expert)
22 July 2020
Yes . Construction cost can claimed ..
Documents can be bills or payments made in regular intervals
Eswar Reddy S
(Expert)
22 July 2020
You may claim it as cost of improvement
Dhirajlal Rambhia
(Expert)
19 December 2021
No documents are required to be attached with ITR filing, but to be produced whenever called for.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Form 144 TDS Return Validation Error – Mandatory Fields
- GST ITC as per notification 12/2023- central tax
- GSTR9 Annual Return
- Form 144 TDS Return Validation error
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Applicability of tax on invoice
- Rent agreement of House of deceased person
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
