Hi
I have purchased a Flat on January 2007 for 13 lakhs. Now I have sold this house on October 2009 for 17 lakhs. In the sale deed the market values mentioned as 20 lakhs & the purchaser had paid stamp duty for that market value.
I did some furniture & electrical fittings in 2008, which cost me around Rs.1 lakh.
I have paid around Rs. 88000 in cash to the builder as transfer charges. But he has not given any receipt for that. And I have paid Rs. 42000 to broker in cash but no receipt.
I want to know the capital in this transaction to pay the Tax.
Regards
Satish
CAclubindia
