Stamp duty and registration fees paid for the new property form part of the acquisition cost
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In computing capital gains on sale of an immovable property, one important figure to be considered is the cost of acquisition of the property. This is required not only for computing the basic capital gains, but also for computing exemption of long-term capital gains available for reinvestment in a residential house, where the cost of the new house has to be considered. The exact meaning of the term ‘cost of acquisition’ for capital gains purposes has not been defined, but has been effectively analysed by courts. Cost of acquisition
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