Capital gain
This query is : Resolved
05 September 2013
I have purchased a house property for rs 50,00,000 from a direct party and for the purpose of the agreement 50,00,000 is taken.
Now due to delay in payment of the down payment of 1000000 i have to pay Rs 50000 as interest/Penalty.
I want to know whether the interest/penalty is to be added in the cost of acquisition or not.?
Now due to delay in payment of the down payment of 1000000 i have to pay Rs 50000 as interest/Penalty.
I want to know whether the interest/penalty is to be added in the cost of acquisition or not.?
05 September 2013
I'm Sorry this would not be capitalized....
Message likes :
1 times
06 September 2013
Can you please tell the related section/Provision for the same as it is required during the assessment.??
06 September 2013
No, It wouldn't be capitalized...
I found that this type of interest would not be treated as expense for the cost of the Asset...
I found that this type of interest would not be treated as expense for the cost of the Asset...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Rent claimed on building given on permissive possession basis
- PF wage ceiling
- Missed TDS
- ITC BENEFIT ON BROKRAGE PAID
- Taxation on Old jewellery sold
- Correction in TDS return New Traces Portal
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
