Dear experts. i hav bought a flat from builder. i started giving Rs. 100000 annually since 2000 as installment to builders. but possession was given to me in 2008. after that i have incurred Rs. 200000/- in 2009 for painting etc of house.
My query is: can i claim indextation on the installment paid at the time of sale? will this be allowed yearwise? will Rs. 200000/- paid for painting be treated as renovation etc and indextation be allowed?
pls reply if sure also quote the section.
thanks in advance. 
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Replies (1)
You Purchase a flat from builder is on hire purchase bases, so ownership transfer to you at the end of last instalment. after aquiring ownership you can claim for the deduction as per I.T Act-1963 for Indexation of Repair & renovation of Building, If You Sale the Assets as long term ASSETS.
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