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treatment of legal fees on purchase of land

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(Querist)
16 July 2010 income tax treatment of land registration fees , stamp duty on purchase of land for business purpose
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CA Robin Betala

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CA Robin Betala (Expert)
16 July 2010 hi himanshu, if land is held as stock in trade then expense are deductible as will be treated as capital expenses. where as stamp duty is available for 80 C deduction
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
16 July 2010 Since the expenses are related to purchase of land the same should be capitalised.
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Srikant

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Srikant (Expert)
16 July 2010 Legal Expenses are to be capitalised with the value of Land.
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