Deduction of interest on borrowed loan for hp
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 February 2014
sec 24 deals with deduction of interest on borrowed loan. and the limit of deduction for self occupied property is 150000. so the query is whether this limit is including pre-construction interest? if yes then please give reasons or the reference for the same.
14 February 2014
it is within the limit of Rs 1.5 lakhs. the explanation to second proviso to section 24(b) states that such installment "shall be deducted under this clause"
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