are sec.24 and 54 mutually exclusive?
This query is : Resolved
16 July 2011
Is housing loan interest allowed as a deduction u/s 24 in the year of sale of property?
Can deduction s.54 can also be claimed?
Can deduction s.54 can also be claimed?
16 July 2011
As 24 and 54 are mutually exclusive as a number, the section so numbered are also independent. Interest is allowed in the year of sale of property and 54 can also be claimed by acquiring a new residential house.
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
- 44AD VS 44AB AUDIT
- Query Regarding Refund Adjustment Against Outstanding Demand
- Seeing a huge entry in AIS Purchase of time deposits (SFT-005), what it is for
- Itr processing delay
- Mode of payment of Tax
- TDS Return processing
- Custom Morale Hat Patches UK
- Trust case
- TDS Intimation(Short Deduction)
- OTP ISSUE XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
- PAN from DIN
- CESS not claimed in GSTR3B either in inward supplies or outward supplies for the period Oct2025
- Purchase of property from NRI
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
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
