deduction
This query is : Resolved
18 February 2010
Hi!
Please ans following query urgently.
Hoising loan taken for purchase or construction of house is allowed as deduction
If I am salaried employee.I have taken loan for reparing and renovation of my house.Is it allowed as deduction.
.
Please ans following query urgently.
Hoising loan taken for purchase or construction of house is allowed as deduction
If I am salaried employee.I have taken loan for reparing and renovation of my house.Is it allowed as deduction.
.
18 February 2010
u/s 80C only payment of Principal amount is allowed for deduction, which have been taken for the purpose of construction of House.
However, you can claim only Interest portion (u/s 24b) while computing Income from House Property and repayment of principal amount is not allowed anywherelse for Repair & Renovation.
Regards!!!
Dinesh S. Adhikari
However, you can claim only Interest portion (u/s 24b) while computing Income from House Property and repayment of principal amount is not allowed anywherelse for Repair & Renovation.
Regards!!!
Dinesh S. Adhikari
CMA Ramesh Krishnan
(Expert)
18 February 2010
Yes.Interest on loan taken for Repair & Renovantion can be claim u/s.24b
CA Ravi Sisodia
(Expert)
18 February 2010
Agree with Mr. Dinesh
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