My father has construcetd house and he sold of Rs. 15 lac...plz hlp me on calculation of cost to be deducted from sale of capital assets....
and how to save tax on sale of house....
Period of holding?
Cost of acquisition as per bills collected and payment made by banking mode.
Exemption of LTCG can be availed u/s. 54 or 54EC or both.
1. I too face a similar problem with my client. Unless and until you have proper bills and vouchers in support for your claim for improvement or renovation it is hard to prove to the satisfaction of the department.
Please correct me if the above solution has an alternative view
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
CAclubindia
