Cost of Acquisition u/s 55(2)

COST OF ACQUISITION u/s 55(2)

• The price paid by the assessee for the acquisition of the asset.

• Expenses incurred for completing the title Is included In the cost of the asset.

• Expenses incurred In acquiring the asset or acquiring better voting rights

• Interest on capital borrowed for acquiring capital asset (however, expenditure incurred for           acquiring loan amount for acquiring capital asset is not a part of cost of acquisition)

• Amount paid for discharge of mortgage, where the asset was mortgaged by the previous owner.

• Extra amount paid by coparcener for full ownership in specific property allotted to him by HUF

Leave a Reply