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.
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177719 Points)
Replied 24 August 2018
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........
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