Dedcution u/s 24(b) for loan
This query is : Resolved
13 February 2013
Sir
My client is residing in a self owned house. Last year he took a loan from bank & constructed another residential property which is lying vacant. Please tell me whether he is eligible for deduction of Interest u/s 24(b) for 2nd house ?
My client is residing in a self owned house. Last year he took a loan from bank & constructed another residential property which is lying vacant. Please tell me whether he is eligible for deduction of Interest u/s 24(b) for 2nd house ?
13 February 2013
Yes he will be eligible to take the deduction but only if the House property is eligible for charge under Income from house property
and the assessee has to charge one house as SOP and another as DLO
and the assessee has to charge one house as SOP and another as DLO
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