House property
Vaanii (student) (27 Points)
27 July 2014Vaanii (student) (27 Points)
27 July 2014
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 27 July 2014
As regards the Principal amount of Home Loan , deduction is available u/s 80C for the AY 2014-15.
But for the Interest on Home loan u/s 24b, no deduction can be claimed since the possession is transferred only in the current FY. Hence you can claim the interest as pre-emi interest in the next year.
Also there is one Sec 80EE which is applicable for only AY 2014-15 and 15-16. If the conditions of that section are satisfied, the interest can be claimed this year itself.
Vaanii
(student)
(27 Points)
Replied 29 July 2014
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