Interest allowed or not on cost of improvement
This query is : Resolved
gaurav chaurasiya
(Querist)
27 March 2014
I want to know that interest on loan for cost of improvement in case of individual capital assets is allowed or not in short term capital gain.
27 March 2014
i hv compltd my 6 months of articleship,bt now i want to take transfer.so can i submit directly form 109 in icai.and after joining in other firm shall i need to fill again the form 102 & 103.plz reply
27 March 2014
@gaurav the ans is yes.....allowed
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27 March 2014
yes in 1 st year u can directly follow the procedure u mentioned.
gaurav chaurasiya
(Querist)
28 March 2014
Thank You.
Plz mention section also & in breaf. Party as individual & constucted building not shown as busniness selling the plots & following as Short term capital gain. So does interest on loan from other party can be included in cost of improvement, & not paid interest on loan for two year can he pay the interest at end of second year.
Plz mention section also & in breaf. Party as individual & constucted building not shown as busniness selling the plots & following as Short term capital gain. So does interest on loan from other party can be included in cost of improvement, & not paid interest on loan for two year can he pay the interest at end of second year.
01 August 2024
https://docs.google.com/document/d/1FQm4uWSLc5b4WHtATUbrbNtKuFDziPCo_sEWyfjTbgA/edit?usp=sharing
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