A property was under construction and loan was taken for the same. And preconstruction interest was shown in balance sheet. but the property was sold without completion and loan was paid off.
Now what will be the treatment of the interest on pre construction loan which was there in balance sheet?
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Pre Construction Interest on house property
Replies (6)
That can be taken as cost
This is related to individual
Yes , still u can add ur pre construction interest paid in cost of that property for calculation of gains
It was sold last year and it was not considered during capital gain calculation
It should be transfered in capital now as u cant claim it now
Ok. thank you
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