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Cash Payment for Purchase of Land?

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(Querist)
23 August 2008 If i Pay Cash Payment for Purchase of Land for 22 lakhs withdrawing from my bank...

what about 43AB?

All this 22 lakh is paid one time and in same day?

Will it allows?
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
23 August 2008 if you purchase a land on cash & it is your investment & not for trading activity then no addition is made otherwise it is taxable income
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CHEZHIYAN

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CHEZHIYAN (Querist)
23 August 2008 Is that Mean .. I cannot Capitalize it?
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CA Anuj Garg

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CA Anuj Garg (Expert)
23 August 2008 No......you can capitalize it as the payment made in cash for purchase of a asset

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