20 January 2009
My client has purchased a land for Rs. 5.00 lacs and has paid stamp duty on the sub-registrars value which was 15 lacs. After 3 years he has sold the property for 30 lacs.
My question is, for the purpose of calculation of capital gains, the cost of acuqicision is the actual payment of Rs. 5 lacs or the sub-registrars value of Rs. 15 lacs.
CAclubindia
