Is Registration Cost added in Cost of Acquisition

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  1. Soumen Samanta

    Soumen Samanta New Member

    While calculating the LTCG, can I add the registration cost in the cost of purchase? can I add the annual maintenance charges also in the cost of acquisition?
     
  2. Aditi Gulati

    Aditi Gulati Active Member

    Yes, the Registration Cost would be added in the Cost of Acquisition
     
    Soumen Samanta likes this.
  3. Soumen Samanta

    Soumen Samanta New Member

    So if the cost of the flat is 40 lacs and the registration cost is 3.24 lacs made in 2011 and the sale price of the flat is 80 lacs and bokerage is 1 lac. What will be the LTCG? As per your confirmation, it is coming as 19.5 Lacs (approx) considering the CII value for 2011 is 785 and for 2015-16 is 1081. Please cofirm whether it is correct.
     
  4. Soumen Samanta

    Soumen Samanta New Member

    @Aditi Gulati ...Thanks a lot for your response....could you please check my second query and respond please....
    Also I want to ask one more thing that everyone is mentioning that withdrawal of money from capital gain account requires Income Tax officer approval. But if you use form C, where you will get the approval? Is the approval required only for closing the CG account (G form)?
     
  5. Aditi Gulati

    Aditi Gulati Active Member

    The Registration Cost would be added to the Cost of Acquisition only if the Stamp Duty paid has not been claimed earlier as a deduction under Section 80C
     
  6. Aditi Gulati

    Aditi Gulati Active Member

    The maintanence charges wont be added to the cost of acquisition
     
  7. Soumen Samanta

    Soumen Samanta New Member

    Thank You Ms. Aditi...The stamp duty paid was not claimed earlier as a deduction under section 80C. Could you please respond whether the calculation provided by me is correct or not? Alos please respond for the query related to withdrawal from capital gain account - that is whethet Income Tax officer approval will be required or not - For closure, I know, it will be required as we will have to fill up form G but for withdrawal, we can use form C to get the withdrawal - right? Please confirm whether my assumption is correct?
     
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