Rebate under sec 24b
vinod kumar soota (Others) (44 Points)
06 August 2015vinod kumar soota (Others) (44 Points)
06 August 2015
Z
( )
(2960 Points)
Replied 06 August 2015
Explanation to S.24
Where the property has been acquired or constructed with borrowed capital, the interest, if any, payable on such capital borrowed for the period prior to the previous year in which the property has been acquired or constructed, as reduced by any part thereof allowed as deduction under any other provision of this Act, shall be deducted under this clause in equal instalments for the said previous year and for each of the four immediately succeeding previous years:
When the property will be constructed and certificate to this effect is given.
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 06 August 2015
If its not completed in 3 years, quantum reduces to 30K/year from 2L
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