treatment of legal fees on purchase of land
This query is : Resolved
16 July 2010
income tax treatment of land registration fees , stamp duty on purchase of land for business purpose
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
16 July 2010
Since the expenses are related to purchase of land the same should be capitalised.
16 July 2010
Legal Expenses are to be capitalised with the value of Land.
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