Gaurav Kapoor , Apartment Resident
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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.

Latest Answer: 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.

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