I purchased a house in March 2005 for Rs. 475000. (Rs. 70000 extra towards stamp paper for registration) I invested Rs. 250000 for its repairs in 2007-2008. I sold it for Rs. 1500000 in Jan. 2010.
How much capital gain I have to pay. Am I required to show some document to prove cost of repair. I have taken no loan for repair. Can I save if I purchase some capital gain bonds.
Dear Karunesh,
In which year u had incurred expenses on repairs (plz tell me interms of Financial Year like- 2006-07)
definitely yes.... 54 EC.....
N J Suresh & Associates
Bengaluru
CA Inter
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