AD-FREE CAclubindia and Daily Mobile Updates. Subscribe Now!

Cost of Acqusition- Capital Gain

David (article Assistant) (1644 Points)

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?

Reply
Follow
Share

5 Replies

SUSHANT BIDAYE (669 Points)
Replied 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

2 Like

David (article Assistant) (1644 Points)
Replied 02 July 2020

Thank you. Is there any other way? If the construction was done long years back, what to do?

SUSHANT BIDAYE (669 Points)
Replied 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

1 Like