Can I consider the cost of home renovations in calculating my capital gains. I bought my house in 1994 for Rs.200,000. I completely renovated it by paying another $40,000 in 1994 before I moved in. THen I renovated it again in 2000 and 2006. House renovation only included painting, changing windows, doors, kitchen kaddappa, bathroom. It does not include any furniture or fittings. Can i use the inflation index for the year in which i renovated my house? I do not have any receipts as most of it was payment to contractors in cash.
CAclubindia
