Sec 24b (house property)

This query is : Resolved 
 

(Querist) 03 January 2012

Whether interest on borrowed capital allowed as deduction u/s 24b for the construction of a house will be disallowed when the house is sold


CA Siddhartha Bhardwaj (Expert) 03 January 2012

No, the interest will not be disallowed. There is no such provision in the Income Tax Act.

CA Navin Jain (Expert) 03 January 2012

Agree, there is no provision in income tax.

CA Navin Jain (Expert) 03 January 2012

Agree, there is no provision in income tax.



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