Cost of improvement capital gain
Aswathy (.) (24 Points)
13 June 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 June 2021
Wife can have tax benefits only when she has decent income on her own. This makes her legitimate owner. Considering this, logically, she can reimburse you the amount from her account and revalue the building under her name is my opinion.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 June 2021
Wife can have tax benefits only when she has decent income on her own. This makes her legitimate owner. Considering this, logically, she can reimburse you the amount from her account and revalue the building under her name is my opinion.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 June 2021
First of all the money that individual pays against their Home improvement loans are tax deductible. However, it is also tax deductible upto 30,000₹ if its is paid directly by the homeowner.
Aswathy
(.)
(24 Points)
Replied 13 June 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 13 June 2021
i will suggest that you should get revise the invoice because as per RULE 46 of CGST there is requirement to mention NAME of Recipient, hence you can face problem is future at time of AUDIT
Read more at: https://www.caclubindia.com/forum/billed-to-name-mistake-on-invoice-421260.asp
so, you can easily get the invoice changed to your name. Further, invoice act allows change of name.
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