How to calculate the Interest on borrowed capital for pre-construction period?
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| Originally posted by : Preety Singh | ||
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How to calculate the Interest on borrowed capital for pre-construction period? |
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Interest for pre-construction period (to the extent it is not allowed as deduction under any other provisions of the Act) will be accumulated and claimed as deduction over a period of 5 continuous years in equal installments commencing from the year of completion of construction.
Contact your banker and they will give you a statement of interest on loan...
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