Can materials procured for interiors be considered for cost of acquisitions

Yes you can claim as cost of improvement 

Yaa.. not an issue

If it's not a huge amount then the risk would be higher but if you feel you need to take that risk you can add the cost of material for interior as cost of improvement but how would you prove who applied that interior as you labour was on daily wage basis.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Dear Sir,

Hope you are doing well !!

Yes, you can claim these as part of COA of your flat but it is subject to litigation.

Even if the billing address is different, you can claim it.

Yes, you can claim the improvement cost as COA as it was incurred to make the house habitable. Retain the invoice of materials and prepare the vouchers of the cash paid the daily wages. Also, it would be better if the wages paid to the labour is supported by the cash withdrawal from the bank.

Yes it is 100% admissible. Make hand vouchers for the Labour wages paid. but don't just add the value of materials , also add some amount for labour wages in cost of acqusition to avoid litigation.  No issue if Billing address is different. Besides in books when you file the return of Income, when you enter the date of capitalisation, choose a date atleast a week after the date of your latest bill of materials, considering the time to make a structure out of it.Also indexation will be available on such amount in Income Tax from this date

Please rate this answer 5, if you find the information helpful.

Hi

Yes it can be considered as Cost of Improvement.

Hope it helps

Yes, you can claim the bills of material etc in cost of improvement.

Hello,

Yes, you can claim it as cost of acquisition of the flat. Also, add labour charges for the same to make it look more authentic.

Regards,

CA Hunny Badlani

Billing address won't create any issue.