Vat paid later on purchase of house property
This query is : Resolved
28 January 2013
Respected Experts,
In Maharashtra, every purchaser has to pay VAT on purchase of House Property. Fact is that though the house is purchased before 1st April 2012, they have to pay VAT in FY 2012-13.
Now, the question is whether this VAT paid on this house is eligible for deduction under section 80C in FY 2012-13 pertaining to AY 2013-14?
Its urgent, so please give your opinion as early as possible.
In Maharashtra, every purchaser has to pay VAT on purchase of House Property. Fact is that though the house is purchased before 1st April 2012, they have to pay VAT in FY 2012-13.
Now, the question is whether this VAT paid on this house is eligible for deduction under section 80C in FY 2012-13 pertaining to AY 2013-14?
Its urgent, so please give your opinion as early as possible.
CA PARAS BAFNA
(Expert)
28 January 2013
VAT paid can not be deducted U/s 80C.
.
It can be added to the cost of acquisition.
.
It can be added to the cost of acquisition.
Message likes :
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30 January 2013
Thank you very much Sir.
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