Cost of improvement

Tax queries 440 views 1 replies

Can a person claim cost of improvemnt done on the property yet to be purchased.

Replies (1)

For claiming cost of improvement there should be an asset which was aquired or recd through will,inheritance etc. by the assessee. Once  you will get the ownership (in case of land or buliding or both the possession) than the amount paid to acquire such an asset can be claimed cost of acquision of such asset. There is no question of Cost of imrovement because you didn't have the ownership.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register