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Brokerage in sale of flat

Tax queries 563 views 3 replies

Brokerage paid to a broker during sale of flat can be claimed as deduction in LTCG computation under transfer expenses. Please confirm.

 

Now, a flat is sold and brokerage is paid to a broker. The broker has asked the seller to make a cheque payment in favor of his trust, and in turn the broker will issue him 80G certificate from his trust. Will this payment still be eligible for deduction as transfer expenses in LTCG computation?

Thanks

Replies (3)
brokerage fee paid can be claimed as expenses incidental to trf of property. but 80g certificate wont help you get this deduction. because 80g is a diff sec. and has nothing to do with calculation of CG.

Thanks Mr. Singh.

you're welcome....


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