Can Interest paid on Housing Loan be capitalized and added to the cost of the asset if deduction u/s.24(b) is not availed on it?
Also can he claim the benefit of indexation of such capitalized interest amount at the time of sale of the asset, for the purposes of computation of Income from Capital Gains?
For interest on renovation, construction etc., sec 24(b) is specifically given under income from house property,
hence I think assessee can not claim the benefit of indexation of such capitalized interest amount at the time of sale of the asset, for the purposes of computation of Income from Capital Gains..
Deduction u/s. 24(b) has not been claimed.
R P S K & Associates
Nashik
CA Inter
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