Cost of Aquisition of flat
sajith gopinath (29 Points)
09 May 2021Kindly assist me on this issue.
sajith gopinath (29 Points)
09 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 09 May 2021
Lotus Agrawal
(Practice)
(1356 Points)
Replied 09 May 2021
sajith gopinath
(29 Points)
Replied 09 May 2021
veerendar singh
(tax consultant)
(3301 Points)
Replied 09 May 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 09 May 2021
1) Usually sale deeds are registered on the basis of the guidance value (set by the local authorities) that is also used for the purpose of payment of stamp duty.
2) Total payments (usually made against agreement to sell) will be regarded as the cost of acquisition
3) Stamp duty and registration charges paid can be claimed as a deduction u/s 80C subject to the limit of Rs.1.5 lacs
sajith gopinath
(29 Points)
Replied 25 May 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 25 May 2021
You may claim stamp duty that has actually been paid. In the above case, this will be computed on the basis of value as per sale deed.
veerendar singh
(tax consultant)
(3301 Points)
Replied 25 May 2021
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