Claiming preconstruction preiod expense
This query is : Resolved
CA Hemant Jain
(Querist)
20 January 2014
Interest on pre construction period of house property.
The persons received HBA as follows
On May 2009 30%
On May 2010 40%
On May 2011 30%
Repayment started on October 2009.
Completion of the house property on JAN 2014.
How he claim the pre construction period expenditure as per Income Tax Act. ?
The persons received HBA as follows
On May 2009 30%
On May 2010 40%
On May 2011 30%
Repayment started on October 2009.
Completion of the house property on JAN 2014.
How he claim the pre construction period expenditure as per Income Tax Act. ?
20 January 2014
Hi
Total Int. pertaining to pre-construction period is deductible in 5 equal Installments beginning in the year of completion of construction.
Thx
Total Int. pertaining to pre-construction period is deductible in 5 equal Installments beginning in the year of completion of construction.
Thx
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