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Home > Forum > Bangalore > Property Selling > Need help regarding Tax Calculation

Need help regarding Tax Calculation

Q: Hi,

I have a house of which, the ground floor was constructed in the year 1986 and then the first floor was constructed in the year 2000. However, I don't have the papers which state the Cost Price of the construction.
Now I wish to sell the house and I am not sure how to calculate the cost price of the house for taxation purpose.
Considering the fact that:
Selling Price - Cost Price = Profit (on which I need to pay tax to the govt)

Where and how can I get the Cost price of my house, which the IT Dept. will consider authentic for tax calculation?

Any help on this would be really appreciated.

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Replies (1)
1
Hello Gaurav, This is a very complex situation and I would suggest you to take advice/help from a legal expert who are dealing with such cases.
Rakesh


2

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