Deduction of interest for constrution of commercial property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2014
i have taken a loan for construction of commercial property in 2004. I have started selling of shops in 2009-10 with construction going on can i claim deduction of whole interest of 2009-10 against profit or it will be capitalized. Detailed answer required
14 April 2014
YOUR BUSINESS OF MAKEING & SELLING THE PROPERTY THEN YOU CAN NOT CAPITALIZE THE INTT
YOU CAN CLIM AS EXP. WHOLE INTT. ACCORDING THE YEAR
YOU CAN CLIM AS EXP. WHOLE INTT. ACCORDING THE YEAR
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