Please Help: claim for penalty paid on home loan
Posted Date : 17-Jan-2013 , 01:16:04 pm | Posted By: Dilbagh Singh
Category :
Income Tax | Answers :
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under which section we can take the benefit of penalty paid for non-payment of home loan?? Had it been case of interest paid on home loan, then we could take benefit under Sec. 24(b) of income tax act. Can we add this amount towards cost of improvement of house while calculating capital gain?? |
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Answers:
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 Answer by: CA Satuti Mahajan |
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| Posted By : |
24-Jan-2013, 12:08:30 |
| As of my knowledge..any amount expended in infringement of any law is not deductible under income tax act..and the penalty paid for non payment of home loan is in infringement of law...so the said amount is not deductible under income tax. |
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