Cost of acquisition for purpose of capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2014
Dear Experts,
Suppose, I had Purchased immovable property in year of 2000 for Rs. 10 lacs, on which I had paid Rs.10,000 as stamp duty. However, in year of 2002 Stamp value authority calculate value of that property as Rs.12 lacs and therefore I had paid Rs.2,000 additional stamp duty.
Now, in case I am going to sale such property then what will be my cost of acquisition for calculation of capital gain, whether Rs.10 lacs+Rs.10000 OR Rs.12 lacs+ Rs.12000 ??
Thank you in advance
Suppose, I had Purchased immovable property in year of 2000 for Rs. 10 lacs, on which I had paid Rs.10,000 as stamp duty. However, in year of 2002 Stamp value authority calculate value of that property as Rs.12 lacs and therefore I had paid Rs.2,000 additional stamp duty.
Now, in case I am going to sale such property then what will be my cost of acquisition for calculation of capital gain, whether Rs.10 lacs+Rs.10000 OR Rs.12 lacs+ Rs.12000 ??
Thank you in advance
CA Jitender Sharma
(Expert)
14 April 2014
Consider Rs 10 lacs+ 10k= cost of acquistion
(also consider cost of indexation of year 2000-01)
and
Consider Rs 2000 as cost of improvement
(also consider cost of indexation of year 2002-03)
(also consider cost of indexation of year 2000-01)
and
Consider Rs 2000 as cost of improvement
(also consider cost of indexation of year 2002-03)
Rupesh Jain
(Expert)
15 April 2014
rs. 10.10 lacs for year 2000
and rs. 2000 stamp duty in paid year
all are include in cost of acquisition
and rs. 2000 stamp duty in paid year
all are include in cost of acquisition
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