Capital gain tax save

Tax queries 111 views 2 replies
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Electrical
21 Points Joined August 2020

Namaste sir 

 

I'm Narahari from Bangalore,  I had sold my plot for Rs43 lakhs and deposited in capital gain account in bank. 

 

Now I'm purchasing 15 years old flat for Rs 37 lakhs. 

The remaining 6 lakhs can i use to modernize my new house like 

New wardrobe 

Change of floor titles 

Change of rest room fixtures 

Painting and other miscellaneous 

 

So to avoid capital gain tax 

 

Please advice 

 

Regards 

Narahari 

6360363391

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On 01 December 2021 at 09:35 Report
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Managing Partner at TAXounting
8742 Points Joined November 2013
As per me changing tiles and other miscellaneous work can be treated as application of fund
But purchase of Wardrobe and furniture work cannot be treated as application of work

opinion of other experts are welcome
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On 02 December 2021 at 09:52
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DIRECTOR
29 Points Joined August 2012

All Fixtures allowed but loose furniture , painting & Misc items not allowed

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On 03 December 2021 at 11:18


CCI Pro

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