we bought a land in 1991 ; 2001 year we built a house with single floor and 2005 year second floor , with our own earnings.
We are planning to sell this property ; any chance to claim the construction cost deducted from capital gains tax?
Menu
Need help on capital gains tax
Replies (2)
CAPITAL GAINS TAX COMES AFTER CLAIMING
PURCHASE COST + IMPROVEMENT COST
Absolutely you can claim. also it is a long term capital gain, so choose between claiming under investment allowance or reducing capital gain
Recent Topics :
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
Related Topics :
CAclubindia
