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ITC on construction expense of building


Shinoj Davis   21 September 2020

Shinoj Davis

 1 likes  89 points

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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
Shinoj Davis

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naresh (article assistant)     21 September 2020

naresh
article assistant 
 3 likes  66 points

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We can not claim

1 Like
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CA Sachin Jain (Practicing CA)     21 September 2020

CA Sachin Jain
Practicing CA 
 11 likes  213 points

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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.

For further clarification contact CA SACHIN M JAIN
Mobile : 8097515447
WhatsApp : tinyurl.com/wCASMJ
Email : casachinmjain @ gmail.com
LinkedIn : tinyurl.com/LCASMJ
YouTube : tinyurl.com/YCASMJ
Twitter : tinyurl.com/TCASMJ

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Shinoj Davis   22 September 2020

Shinoj Davis

 1 likes  89 points

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Thank you all


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