Sir, I sold my flat @ 90 lakhs which was purchased in 2010 for 28 lakhs. Whether I can add stamp duty and registration fee paid in 2010 to the cost of flat for calculating capital gain? Also I have carried out home improvement works including painting and these are eligible for tax calculation? Please advise
Ans: Yes, Stamp duty and registration fee will form part of cost of acquition. However it is not advisable to consider it as cost, if deduction u/s 80C is taken in the year of purchase.
Further, cost of improvement will allowed for deduction separately while calculating capital gain.