{"id":33255,"date":"2023-03-19T16:30:47","date_gmt":"2023-03-19T11:00:47","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=33255"},"modified":"2023-03-19T16:30:47","modified_gmt":"2023-03-19T11:00:47","slug":"cost-of-acquisition-of-an-asset","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/cost-of-acquisition-of-an-asset\/","title":{"rendered":"cost of acquisition of an asset"},"content":{"rendered":"<p>An assessee purchased a builiding in 2002 an made certain improvements thereafter . The building was old and was demolished in 2021. The assessee is now selling the land. What shall be cost of acquisition for tax purpose<\/p>\n<ol>\n<li>the cost of building and improvement<\/li>\n<li>the value of land only<\/li>\n<\/ol>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[795,437,501],"class_list":["post-33255","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-building","qa_tag-indexation","qa_tag-land"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/33255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=33255"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33255"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=33255"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=33255"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=33255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}