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Deduction of interest for constrution of commercial property

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Querist : Anonymous

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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
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Rupesh Jain

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Rupesh Jain (Expert)
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
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