Best way to avoid long term capital gain tax

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Riya Jain

articleship

105 Points Joined November 2016

My Uncle sold a Plot at 7 L

The thing is that plot he got againest 1994 around 15K from City Development

city development issued plot againest a House My uncle own which is half construction and city development office took over that plot and issued another plot later in 2005

Now i Know that 15K was price ucle paid and got recipts and can add inflation index 2

But I Want to know that a half construction house which city development took can My uncle Add them into cost of that plot cuz uncle dont have any Reciepts or proof for house which city devlepement took except its in the file of city development office also how to justify of cost of that half construction house ? which city devleopment took in 1994

Replies (4)

CA Parth Bhavsar

58 Points Joined April 2016

whatever cost incurred by u...dept demand only evidence in relation to cost incurred fr construction of such property.
as u said no evidence then ignore. nt to add cost of property. u cn save cap gain by investing more amount.

so in future there is no any dispute arise. safe side

Riya Jain

articleship

105 Points Joined November 2016

Originally posted by : CA Parth Bhavsar
	whatever cost incurred by u...dept demand only evidence in relation to cost incurred fr construction of such property.as u said no evidence then ignore. nt to add cost of property. u cn save cap gain by investing more amount.so in future there is no any dispute arise. safe side