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Schedule al house property

ITR 224 views 2 replies

Sir,
I am a resident Indian needing to submit AL sch as per my income slab. My query is regarding a residential flat for which I have paid an advance (by cheque) to the builder but have not got possession or registration done. The building is still under construction.

My question is
1. Should i show the flat as a residential property 
2. If not, how do i show the advance paid to the builder

Thanks in advance for the response.

Replies (2)

1. No

2. Under (iv) Financial asset....... (d) Loans and advances given

Thanks for the advice


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