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Cost of Acqusition- Capital Gain

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article Assistant
1644 Points Posted on 02 July 2020
How to arrive the cost of a house constructed by own? If the bills are not available? For the capital gain purpose?
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On 02 July 2020 at 12:41 Report
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721 Points Posted on 02 July 2020
There would be other documents such as bank entries etc.

you may also request for duplicate bills.

also it is a good practice to keep biils always for such important transactions
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On 02 July 2020 at 13:17
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article Assistant
1644 Points Posted on 02 July 2020
Thank you. Is there any other way? If the construction was done long years back, what to do?
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On 02 July 2020 at 15:53
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721 Points Posted on 02 July 2020
Alternately if your house was constructed prior to 1-4-2001, you can substitute fair market value as on that date as cost of acquisition.

you can et the valuation done through approved Valuers
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On 02 July 2020 at 16:25
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article Assistant
1644 Points Posted on 02 July 2020
Thank you
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On 02 July 2020 at 18:56
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Practising CA
8954 Points Posted on 02 July 2020
Agree with Sushant Bidaye ji.
30 Reply
On 02 July 2020 at 19:24


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