are sec.24 and 54 mutually exclusive?
This query is : Resolved
sri.student
(Querist)
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?
CA PARAS BAFNA
(Expert)
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.
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