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Cost of acquisition

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(Querist)
18 March 2013 If someone purchase a plot on loan & paying interest on it, whether these interest can be claimed as cost of improvement.
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CMA Nishad Patkar

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CMA Nishad Patkar (Expert)
19 March 2013 It can not be claimed as a cost of Improvement as it does not contribute towards any physical Value Addition.

Further this interest benefit is already separately awarded U/S 24(b)subject fulfillment of conditions specified therein.

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