Tax on Long term proeety

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538 Points Posted on 18 November 2023
Dear Sir, I have a building 15 years old, 2 months ago , I repaired it and repaire cost Rs. 5 lac. Can I add with cost of building , when I calculate long term capital gain?
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On 18 November 2023 at 23:16 Report
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Quick Summary
This discussion clarifies how repair costs are treated for Long Term Capital Gains Tax on property. If you've spent money on repairs for a property that leads to a capital gain upon transfer, you can generally add these repair expenses to the original cost of the building. This adjustment can help reduce your taxable capital gain.

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CA
10436 Points Posted on 19 November 2023
Yes, you can add it
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On 19 November 2023 at 07:36
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Profession
28271 Points Posted on 19 November 2023
Repair cost 5 lac.transfer of property leads to capital gain.
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On 19 November 2023 at 12:18
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538 Points Posted on 19 November 2023
Pls. explain, don't understand
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On 19 November 2023 at 23:09

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