vishal (job) (30 Points)
24 February 2022If i purchased a plot in 2001, and constructed a house on it. and sold it in 2022 january.
Now for the purpose of calculating capital gain i have to only minus the cost of plot from the sale value and the result is my actual capital gain or i can also deduct expenses incurred in construction of house, modular kitchen, under ground water tank, rain water harvesting, modular kitchen and some other expenses.
Kaushik Joshi
(Practising Chartered Accountant)
(1527 Points)
Replied 24 February 2022
sabyasachi mukherjee
(26331 Points)
Replied 24 February 2022
vishal
(job)
(30 Points)
Replied 24 February 2022
Thanks for your valuable advise. The house was constructed 20 years back. In those days we usually paid all the amount to the contractor who constructed house and other aminities. We do not have any bills in our hands. In this case what are the options we are having ?
CAclubindia
