Renovation Expense on Residential Property

[Guest]

Dear Professionals,

Can the renovation expense be claimed as cost of improvement in case of residential property ? Please suggest some case study .

Regards,

Prashant

[Ganeshan Kalyani]

In my view Yes.

AI Summary

Renovation Expenses Qualify as Improvement Costs for Residential Properties Under Income Tax Rules A participant inquired whether renovation expenses could be claimed as a cost of improvement for a residential property under income tax regulations. Another contributor responded affirmatively, suggesting that such expenses can be considered as a cost of improvement.