A building already constructed is demolished and after that new building is constructed and then the said building is sold out.
So in this, for the calculation of income from house property, demolishing expenses are considered to be a part of cost of improvement??
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House Property
Replies (5)
yes, both demolition charges of old building and construction cost of new building can be claimed as improvement expenses
Yes. I Agree with @ rama krishnan
Demolishing charges paid for Old house is a Improvement charges paid for New sold house. So yes you can claim the same.
Nd what if building is diminished and only land is sold out, then demolishing expenses can be considered as cost of improvement?
If that building was not demolished there would not be a vacant land to sold, so it's a allowed expense.
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