Cost of house property
This query is : Resolved
11 September 2012
will interest paid on borrowed funds for aquisition of house property(before possession) be capitalised
11 September 2012
1. Interest paid before acquisitions shall be allowed as deduction u/s 24 in 5 equal installments beginning from the year in which the property is acquired.
2. It will NOT be capitalised.
2. It will NOT be capitalised.
11 September 2012
what if interest is not taken as deduction in year of aquisition and property is sold aftr one year of acqusition.will it be capitalised in this case. and thankyoy
11 September 2012
If interest on home loan not availed as deduction , even then the interest amount WILL NOT be capitalized.
Interest on home loan (both pre-construction and post-construction)are the benefits that an assessee choos to avail or not to avail. In no cases, the amount will be capitalized
Interest on home loan (both pre-construction and post-construction)are the benefits that an assessee choos to avail or not to avail. In no cases, the amount will be capitalized
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Applicability of Ind As to associate of associate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
