can somebody help me below topic:-
1. prepayment charges of home loan shall be capitalised or not for calculating capital gain/loss?????
2. interest claimed u/s 24(b) sahll be capitalised or not for calculating capital gain/loss????
can somebody help me below topic:-
1. prepayment charges of home loan shall be capitalised or not for calculating capital gain/loss?????
2. interest claimed u/s 24(b) sahll be capitalised or not for calculating capital gain/loss????
Dear Raj,
I think, Prepayment charges of loan cannot be capitalized simply becos those charges cannot be said to be related with either the acquisition or improvement,.......
Further interest which is/has been allowed as Deduction u/s 24 CANNOT BE ADDED TO COST OF ACQUISITION for the purposes of capital gain......If it has not been claimed as deduction earlier, only then the same can be added.
I think Amir bhai is rite..........
CAclubindia
