Capital gain tax

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  1. Chitra123

    Chitra123 New Member

    • Capital gain tax
    My dad bought a property in 1980, after his demise myself and my mother became legal heirs( 950 sq ft building in 3001sq ft land)
    1992 my mom extended ground floor 450sq ft
    2002 constructed first floor 1500sq ft
    My mom transferred her rights to me in 2015 through settlement deed
    Later I sold the property
    Now the problem is I don't have any supportive documents or bills which shows as a proof for construction cost
    All i have is
    1) recent sale documents it clearly says each floor has 1500 sq ft
    2) Sale deed in 1980 clearly says 950 sq ft
    3) I have property tax receipts and eb payment receipts
    4) I got a valuation certificate from the registered valuer from income tax dept
    All these proof are enough ?
    Since the property was bought in 1980 valuer took fair market value for the land
     
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