Hi All,
While calculating the LTCG tax, can following things be decucted?
- Brokerage paid to broker YES/ NO
- Maintainence paid to society YES/ NO
- Property tax (or any other tax for that matter) paid to local corporation / muncipalty YES/ NO
- Foreclosure penalty paid to bank for closing the loan YES/ NO
- Any other deductions?
Thanks in advance
--
M
| Originally posted by : Mahesh K | ||
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Hi All, While calculating the LTCG tax, can following things be decucted? - Brokerage paid to broker YES/ NO .....YES - Maintainence paid to society YES/ NO ........NO - Property tax (or any other tax for that matter) paid to local corporation / muncipalty YES/ NO .................... NO - Foreclosure penalty paid to bank for closing the loan YES/ NO ..............NO - Any other deductions?.................. development cost(s) capitalized in the years reflected in fixed assets are eligible for deduction. Thanks in advance -- M |
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Thank you Mr. U S Sharma.
I forgot to ask one more thing. Is the stamp duty paid while regestration is deductable?
Thanks
| Originally posted by : Mahesh K | ||
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Thank you Mr. U S Sharma. I forgot to ask one more thing. Is the stamp duty paid while regestration is deductable? Thanks |
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stamp duty paid + registration expenses paid at time of purchase are capitalized / deducted under 80C ( anyone),
stamp duty at the time of sale is the part of buyer, so its not allowed from sale proceeds
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