Cost of acquisition for capital gain

2388 views
User Avatar

39 Points Posted on 21 December 2020
i want to know that what type of cost should be added in the cost of acquisition of property?
like stamp duty and registration charges will be added. but with these expenses any other expenses can be added e.g. Legal charges, society formation charges, Share money and entrance fees, Electric and water charges, Development Charges, Adhoc maintenance charges, Infrastructure charges, External infrastructure charges..
So i want to know that all these expenses should be added to cost of acquisition or not??
Please guide me..
0 Reply Share Follow
On 21 December 2020 at 13:41 Report
Replies (5)
Quick Summary
This discussion clarifies which expenses can be included in the cost of acquisition for a property when calculating capital gains tax. Generally, only stamp duty and registration charges are directly added. Other costs incurred after the purchase, or those not directly attributable to the buying process, typically fall under 'cost of improvement' or are not deductible at all. It's also noted that if stamp duty and registration are claimed under Section 80C, they cannot be included in the cost of acquisition.

User Avatar

Accountant
4533 Points Posted on 21 December 2020
No,execept stamp duty and registration charges no other charges will added
3 Reply
On 21 December 2020 at 16:34
User Avatar

Tax consultant
5895 Points Posted on 21 December 2020
Any expenses which are attributable to the purchase of property are allowed to be added in the cost of acquisition of the property
if after purchase of house these expenses comes then it's comes under cost of improvement
1 Reply
On 21 December 2020 at 16:54
User Avatar

39 Points Posted on 22 December 2020
But all these other charges are paid to builder at the time of purchase of property..
so will it not be allowed?
Reply
On 22 December 2020 at 11:18
User Avatar

Tax consultant
5895 Points Posted on 22 December 2020

Any expenses incurred on repairs and renovations at the time of purchasing of house will include in Cost of acquisition

 Entrance charge , maintaintance charge Society charges, Electric,water,gas charges are not included in COA and others Expenses nature if you tell I can tells you 

And if you take stamp duty and registration charges as deduction under 80 C while purchasing of house then you can not  added th in calculation of COA

Reply
On 22 December 2020 at 18:14
User Avatar

39 Points Posted on 23 December 2020
Ok thank you.
Reply
On 23 December 2020 at 09:56

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Last Date To Fill ITR For Non-Audit Case
  2. Guidance Required on Filing Fresh Registration und
  3. IT Return Refund Status AY 2026-27
  4. Clarification Regarding Income Tax Demand Notice
  5. Online PAN Download: Check How?
  6. Demand of Late fee/Interest under section 75 of GS
  7. DSC registration on TRACES portal
  8. Can we get registered for MCA if we get a Virtual
  9. DONATION PAYMENT REG
  10. GST IDS Refund – Statement 01A: Invoice Not

More recent discussions | Post

Related Topics :

Loading