DEAR FRIENDS,
I WANT TO KNOW THE COST OF ACQUISITION IN THE FOLLOWING CASE:
A LAND WAS SOLD SEVEN YEARS BACK AND A HOUSE PROPERTY WAS PURCHASED TO CLAIM EXEMPTION FROM CAPITAL GAINS.
NOW, THAT BUILDING IS DEMOLISHED AND SOLD AS A LAND.
WHAT IS THE COST OF ACQUISITION IN THIS CASE?
BUILDING VALUE + DEMOLISHING EXPS.
KINDLY CLARIFY.
THANKS IN ADVANCE.
Depends upon 2 factors.
1. Agreement or sale registered as land or structure with any required modification/s.
2. Onus lies over assessee to prove about improved sell price ONLY after demolition.
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
KK & Company Chartered Accountant
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
