i have sold a shop in a commercial complex.I have paid 50 lakhs towards cot in 2003.i Have spend 5 lakhs towards registration expenses.I have also paid 5 lakhs towards cenntralised air conditioning deposit,1 lakh towards electricty deposit and 0.50 lakhs towards water deposit.the amount paid towards deposits are not shown in the purchase deed.the builder have indicated these amounts in sale agreement. Now i have sold the shop. and paid capital gain tax.The assessing officer refuses to to consider the money paid towards deposit and indexation on the above.Is he correct? what is the correct legal position
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Capital gains computation
Replies (2)
Onlt the cost of 50 lakkhs and regt charges of 5lacs would be eligible for capital gains calculation. Deposits would not be considered in cost for thsi purpose.
Not sure why the AO is not considering indexation. What explanation did he prvide for this.
you can only claim cost of acquisition and cost of repairs....not security repairs
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