Cost of acquisition

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abhilasha jain

abhilasha jain (Querist)
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21 February 2012 Does cost of acquisition include cost of furniture on transfer of fully furnished house.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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21 February 2012 To my view, it is not included on the ground that furniture as such not form part of capital asset unless it is required to make the house inhabitable.
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It takes the nature of personal effect, when something additional than that is added.
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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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21 February 2012 Agree with view of Mr.Paras Bafna. Furniture cannot form part of cost of capital asset under capital gain calculations

abhilasha jain

abhilasha jain (Querist)
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22 February 2012 thank you for your valuable suggestion.

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