I am a software engineer by profession and I have bought a residential plot and just dug borewell at my site. I have installed the submersible motor pump and I have received the bill for the motor pump installation for 1 Lakh Rupees. The house construction has just started. and will be completed only by next year. The contractor who installed the motor pump informed me that I can claim this motor pump bill for Tax benefits.
Can you kindly direct me on how I can claim the tax benefit for the borewell motor pump installation? Is there a section where I can claim tax benefit for the same? Please help.
CAclubindia
