Expenditure on transfer - Income Tax - Ready Reckoner - Income Tax

EXPENDITURE ON TRANSFER Expenditure incurred wholly and exclusively in connection with the transfer of a capital asset is deductible from the full value of consideration. It is immaterial whether it was incurred prior or subsequent to the transfer, the important part is, it must be incurred wholly and exclusively in connection with or in relation to the transfer. Examples: Brokerage or commission paid for securing a purchaser, cost of stamp etc. NOTE: The expenses that you deduct from the sale price of assets for calculating capital gains are not allowed as deduction under any other head of Income Tax, these can be claimed only once.