Dear All,
If i taken a loan form bank for renewal/repair of my flat, can i capitalise such renewal/ repair expnses and increase property value of my fix asset.
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Capitalisation of flat
Replies (3)
As such yes, but flat being personal investment, doesn't effect current tax assessment. It helps in assessing capital gain (as Cost of Improvement, provided expense bills retained), when same is sold........
Yes Sir,
Thanks a lot
Yes Sir,
Thanks a lot
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