ADVANCE GIVEN TO BUILDER FOR HOUSE- 80C?????

687 views 2 replies

Hi,

Building is under development. Flat purchased and payment made in piecemeal every year. i want to know whether such non refundable advance given to builder for house purchase is allowable as deduction u/s 80C as the cost of purchase or construction.

Urgent.

 

Regards,

Manoj

Replies (2)

i think it would not be allowed as a deduction as the flat has not been purchased..so it is not a cost of house purchase..hence no deduction..

I have a similar situation, having paid advance lumpsum to construction in Nov 2011 expecting a registry and occupation in Oct 2013. Since In this case the advance payments during construction cannot be deducted, however, can these advanced payments retrospectively be applied in the year subsequently when registring? Also how about service taxes, VAT, cess, and paid this year, can we apply them in the year paid?

Thanks. Rahin

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details