Dear All,
My father is selling a property (flat in Kolkata) which was bought in 1993 for a price of 1,40,000 INR. While calculating the tax liabilities, can the experts help me understand -
>> Is the registration and corporation mutation cost be included in total cost of the house when the indexation of the cost is done?
>> Is there a legal authority who can get the indexation of the house done?
>> My father is retired and a senior citizen, The capital gains I understand is Selling price - Purchase price after indexation. How much deduction is allowed for a senior citizen to minimize the tax liability.
Thanks and Regards
Dr. Avinash S
