01 August 2012
no tax treatment for cost of repair/improvement now but when u'll sell the flat u can claim these expenses as cost of improvement while calculating the capital gain.
03 August 2012
What is the Accounting treatment for this. can we show this expenses in p/l and calculate deferred tax or can we capitalize this expeniture.
03 August 2012
they are t/fed to p&l account only if flat is used for business purposes but here u bought it for sake off investment so improvement charges should be capitalized.
CAclubindia
