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capitalisation of interest.

This query is : Resolved 
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(Querist)
07 July 2009 is interest paid on loan for constructing a house forms part of cost of acquisitoion, for the pupose of computinfg capital gain.
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Ratan Sharma

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Ratan Sharma (Expert)
07 July 2009 No. As interest is payable after the date of purchase of property therefore it is a revenue expenditure and can not be capitalised.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
07 July 2009 agree
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