Proofs to show Construction of House for Income Tax Rebate

Share
Share This Thread
  1. c v santhosh

    c v santhosh New Member

    Hi,

    I constructed a house on my own in the year 2010 and now I am trying to sell the house. Now I need to get the cost of my construction house to calculate capital gains. Since I did constructed the house on my own, do not have any proofs for construction cost for taxation purposes. Please let me know the acceptable proofs for taxation purposes.

    Thanks
    Santhosh
     
  2. Karan Batra

    Karan Batra Well-Known Member

    The amount spent by you on construction would be considered as Cost of Improvement only if you have valid bills for the same.

    Any expense for which you dont have the bills would not be allowed to be treated as cost of improvement
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Proofs to be submitted when applying for Income Tax Returns refund Income Tax Jun 14, 2015
SELECTION OF ITR AND HOW TO SHOW THE INCOME Income Tax Sep 26, 2017
Query on Home loan Interest and Share to be shown (ITR2) Income Tax Jul 27, 2017
Query on Home loan Interest and Share to be shown (ITR2) Income Tax Jul 27, 2017
Can we use section 44AD and show 8% even if profit is 20%? Income Tax Jul 12, 2017