Hey ,
I have a query.. I want a clear and precise answer to deductions which can be claimed from the Sale consideration of the property for tax purpose.
For example, the followings expenses are NECCESSARILY INCURRED for the sale of property, so can I take deduction of following?
- professional fees for consultants/lawyers/
accountants - including to prepare legal documents - to facilitate sale of the property
-Travel to India - incl reasonable local travel - accomodation - eating out exp - ALL NECESSARILY incurred SPECIFICALLY for the transaction to finalise.
-Telephone cost - (proportionate) VISA cost etc etc
-Travel to India - incl reasonable local travel - accomodation - eating out exp - ALL NECESSARILY incurred SPECIFICALLY for the transaction to finalise.
-Telephone cost - (proportionate) VISA cost etc etc
Please give me clear & precise answer.. also as soon as possible.. thanks :)
CAclubindia
