Capital gains calculation

Querist : Anonymous (Querist) 10 November 2011 This query is : Resolved
I acquired an apartment in Mumbai in 1984.The cost of acquisition was Rs. 4.85lakhs. I sold the flat for Rs. 65 lakhs in August this year. My query is:

In addition to the indexation to the purchase cost of the flat in 1984 till to date, Can I add the money spent on the flat for improvement,maintenance, repairs, property taxes, insurance charges,etc. to the purchase cost of the flat for the calculation of Capital gains?

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Piyush Vaishnava (Expert) 10 November 2011
yes, you have include the maintainance cost etc.

Sailesh Kumar Shah (Expert) 10 November 2011
You can avail cost of improvement only on Capital nature.

So property taxes and insurance charges shall not included.

and repairs and maintenance only capital nature would allow.

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