10 September 2017
Interest on housing loan, once i claimed deduction U/s 24 and same time i capitalized( added in cost of flat ) it the books of accounts . can i claim that interest as cost of improvement while computing capital gain ? in other words can claim deduction U/s 24 and under head capital gain same time ?
10 September 2017
No. Interest payments on housing loan cannot consider as cost of improvement and not eligible for deduction to computation of capital gain, more than that any expenditure or deduction allowed under Income from house property is not eligible for deduction in computation of capital gain
10 September 2017
I second Ramesh Krishnan ji. Interest on home loan does not in any way increases the value of the house and therefore cannot be considered as Cost of improvement
16 September 2017
What is final conclusion of the case ACIT v. C. Ramabrahmam (2013) 57 SOT 130 (Chennai)(Trib) ? In Income Tax there are provisions which allows double taxation , then why not there should be double deduction under different sections ?
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