treatment of legal fees on purchase of land
This query is : Resolved
himansu kumar samal
(Querist)
16 July 2010
income tax treatment of land registration fees , stamp duty on purchase of land for business purpose
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
Aditya Maheshwari
(Expert)
16 July 2010
Since the expenses are related to purchase of land the same should be capitalised.
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