Allowability of interest expense under section:- 24(b)
This query is : Resolved
Pratik A Rughani
(Querist)
30 October 2012
I have obtained loan from one of my friend for purchase of House Property I have Paid him Interest during the year can I get the benefit of interest paid u/s 24(b)and that will be s.t. to Rs. 150000/-...?
What about loan component repaid eligible under 80C...?
Regards
I have obtained loan from one of my friend for purchase of House Property I have Paid him Interest during the year can I get the benefit of interest paid u/s 24(b)and that will be s.t. to Rs. 150000/-...?
What about loan component repaid eligible under 80C...?
Regards
Dintakurthi Tirumala
(Expert)
30 October 2012
Section 24(b) interest deduction allowable subject to the maximum of Rs.150000 in case of self occupied property. In case of let out property no Limit for 24(b) interest deduction.
For housing loan taken from the private persons i.e friends, relatives didn't allowable 80C deduction for repayment of principle.
OM SAI SRI SAI JAI JAI SAI
For housing loan taken from the private persons i.e friends, relatives didn't allowable 80C deduction for repayment of principle.
OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
