POSTED BY March 8, 2015 11:19 am ONE COMMENTON
One of my friend did a house sale in Jan 2015.
This house was constructed by him after purchasing a plot in 1996. Construction completed in 1996 itself. How can he establish cost of house as he does not have any bills but for the registration documents of the plot.
In the transaction, he got a capital gain of about 7 lakhs. What are the timelines for paying capital gains tax.
Thanks in advance.