It act
This query is : Resolved
01 February 2018
Dear sir,
Land is purchased before the year 2000 and land is regularised under Land Regularisation act by paying development charges to govt in 2010. Whether development charges and fees paid will be treated as cost of improvement or deducted under income from house property as municipal taxes under IT Act 1961. Hence a clarification is required where such expenses should be shown?
Land is purchased before the year 2000 and land is regularised under Land Regularisation act by paying development charges to govt in 2010. Whether development charges and fees paid will be treated as cost of improvement or deducted under income from house property as municipal taxes under IT Act 1961. Hence a clarification is required where such expenses should be shown?
01 February 2018
Apparently, the expenditure can be treated as cost of improvement being capital
in nature.
in nature.
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