a house is purchased in 2004 (date as per the allotment letter) but it is paid in installments with varying years. so in this case indexed amount should be calculated for different installments ? or it should be calculated for the total amount of acquisition applying just allotment date indexation. ?
also there are number of repairs made to house. in this case should indexation be applied to all cost of repairs or just initial cost of repairs ?
please clarify
Take the indexed cost of acquisition of the date of the agreement.
When you booked the flat and made advance payments an agreement was executed. Take the year of agreement for CII.
Indexation should be applied to all individual repairs which will be added as Cost of improvement.
If registration is done after allotment (diff FY), how to add registration charges & stamp duty to cost of acquisition.
In the current ITR 2 utility only 1 row each for date of acquisition and cost of acquisition. Indexed price is calculated by the system. How to include the registration charges and stamp duty in the current ITR utility?
Thanks.
Thanks for the clarification.
Without deducting cost of purchase how will you calculate capital gain ?
Here i am asking indexation on cost of purchase. I am not calculting capital gain on purchase.
CAclubindia
