[aurangabad_ca] Query on Pre-Construction Interest - Sale of Property
Hi All,
I need your valuable guidance on this issue.
Facts:
One of our client is claiming pre-contruction interest pertaining to a house property which is treated as deemed let out (since he has another self occupied property) from 2 years and there are still 3 years to claim the balance interest. However during the current FY i.e. FY 2009-2010 client sold the relevant house property on 31.12.2010 resulting in short term capital gain.
Question:
In the above situation will he able to claim the balance pre-construction interest in the same year itself i.e. FY 2009-10 or can he claim the balance in subsequent 3 years. Or whether such interest will lapse peremenantely ?
Request you to provide your suggestions in this regard at the earliest.
Thanks in Advance !
Santosh Gogave
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
.
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