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Sec 54 -payments to builder allowed?

Tax queries 164 views 1 replies

In Sec 54 CapGain computations , can I take amounts payable to Builder. Builder seeks certainamts (not in stamp duty /or in regd deed )  for electricity ; for grounds, common banquet hall etc . Can IncTax challenge and delete these from my New House procurement costs (since no stamp duty payable on these possession-time-payable funds, payable to Builder compulsorily) ?

Replies (1)
cost of acquisition also include the amount paid towards right to use common facilities but it is necesaary that amt paid towards common facilities should be provided in sale agreement then you can claim benefit u/s 54.


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