Thursday, November 5, 2020

Sum paid to clear encumbrance of inherited property to be treated as part of cost of acquisition

INCOME TAX: Where assessee had inherited property with encumbrance by way of mortgage, amount paid by assessee to clear that encumbrance to be treated as part of cost of acquisition or cost of improvement under section 48/49

from www.taxmann.com Latest Case Laws https://ift.tt/34Wo6nW

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...