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Builiding under construction

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 January 2018 I have taken a home loan which were user for construction of my new house, now as building is still under progress how do i show while preparing my P/L a/c and Balance Sheet for ITR Filing
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Renu Goyal

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Renu Goyal (Expert)
12 January 2018 Show the expense on building as Capital Work in progress.You can even claim the installment payment as deduction u/s 80c.

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