Cost of acquisition
This query is : Resolved
21 February 2012
Does cost of acquisition include cost of furniture on transfer of fully furnished house.
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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It takes the nature of personal effect, when something additional than that is added.
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Message likes :
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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
22 February 2012
thank you for your valuable suggestion.
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