Shinoj Davis 21 September 2020
Sir / Madam,
I would like to know, Can we take input tax credit on construction expense of building which is to be used for rental services?.
Is it ineligible under 17 (5)?.
How can we let rental services without building ?.
Kindly clear my confusion if you can
Thanks & Regards
CA Sachin Jain (Practicing CA) 21 September 2020
Any construction expenses incurred which is 'Capital in nature', then ITC is not allowed as per section 17(5), if revenue in nature then allowed.
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