Int on hp-when to claim
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2012
Interest for pre-construction period
Money may be borrowed prior to the acquisition or
construction of the property. In such a case, interest paid/
payable before the final completion of construction or
acquisition of the property will be aggregated and allowed for
five successive financial years starting with the year in which
the acquisition or construction is completed. This deduction is
not allowed if the loan is utilized for repairs, renewal or
reconstruction
query in above para:-
if the builder has taken permission to complete the 21 floor.
and construction is completed up to 17 th floor.can assessee can claim interest on the base of his 17 th fo\loor construction is completed
Money may be borrowed prior to the acquisition or
construction of the property. In such a case, interest paid/
payable before the final completion of construction or
acquisition of the property will be aggregated and allowed for
five successive financial years starting with the year in which
the acquisition or construction is completed. This deduction is
not allowed if the loan is utilized for repairs, renewal or
reconstruction
query in above para:-
if the builder has taken permission to complete the 21 floor.
and construction is completed up to 17 th floor.can assessee can claim interest on the base of his 17 th fo\loor construction is completed
14 May 2012
When an assessee purchases a flat from a builder, the term " acquired" comes into play.
.
Acquisition completes only when- possession is handed over to the customer.
.
Completion of Construction here becomes irrelevant as its not being controlled by the assessee.
.
.
Acquisition completes only when- possession is handed over to the customer.
.
Completion of Construction here becomes irrelevant as its not being controlled by the assessee.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
