deduction of interest on borrowed capital
This query is : Resolved
25 December 2008
when a deduction of interest of borrowed capital is allowed .
after complete a construction or before
example
i take a loan from bank on dec-2008. my residence properity will not complete upto 31.03.08 . can i take a benifit of exemption of interest on borrowed capital .
after complete a construction or before
example
i take a loan from bank on dec-2008. my residence properity will not complete upto 31.03.08 . can i take a benifit of exemption of interest on borrowed capital .
25 December 2008
Full deduction of interest pertaining to a financial year can be claimed and allowed only after the completion of the house property. However, interest pertaining to the construction period can be claimed in equal five instalments in the consecutive financial years after construction of the house property is complete.
25 December 2008
u will get the exemption after completion of house property. & intt paid in pre-construction period is allowable in 5 instalments after completion of house property.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Average Cost Of High Quality Diamonds
- ITR 4 OR ITR 3 WHICH FORM CHOOSE
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
