Cost of acquisition

This query is : Resolved

RAGI.K (Querist)
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17 May 2014 Sir,

I have purchased a house property from housing board & as a part of their order,I paid the value of land in quarterly installment along with interest for deferred payment. Can i consider the interest i paid as a part of cost of acquisition?

Rupesh Jain

Rupesh Jain (Expert)
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19 May 2014 intt will dedutable u/s 24(b)
under house property income.

up to rs. 150000/- per year.
intt. will not part of cost of acquisition . principal amount will part of cost of acquisition.

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