Sarthak Gupta 13 March 2019
What shall be the treatment considering Income tax act and ICDS for interest paid on loan for land acquired for business purpose if
i) construction on land is started?
ii) construction on land is not started?
Whether can we consider land as "put to use" when purchased for claiming deduction of interest and secondly if consider capitalisation, we have to capitalise interest under land or building for claiming depreciation?