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Whether expenses are allowed against misreporting income

CA Final 280 views 4 replies
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28 Points Posted on 07 November 2021
example
whether we can claim cost of acquisition
against sale proceed?
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On 07 November 2021 at 20:34 Report
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CA
10436 Points Posted on 07 November 2021

Yes whenever you sale any capital asset, sale proceeds are adjusted from its cost of acquisition.

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On 07 November 2021 at 20:56
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28 Points Posted on 07 November 2021
Ok thankyu
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On 07 November 2021 at 21:25
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CA
10436 Points Posted on 07 November 2021
Welcome 😀
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On 07 November 2021 at 21:42
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Chartered Accountant
24588 Points Posted on 08 November 2021
Yes cost of acquisition can be deducted for computing capital gains
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On 08 November 2021 at 06:07


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