Cost of acquisition
This query is : Resolved
Manish Singh
(Querist)
18 March 2013
If someone purchase a plot on loan & paying interest on it, whether these interest can be claimed as cost of improvement.
CMA Nishad Patkar
(Expert)
19 March 2013
It can not be claimed as a cost of Improvement as it does not contribute towards any physical Value Addition.
Further this interest benefit is already separately awarded U/S 24(b)subject fulfillment of conditions specified therein.
Further this interest benefit is already separately awarded U/S 24(b)subject fulfillment of conditions specified therein.
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