Deduction of interest u/h house property
This query is : Resolved
23 January 2013
sir, mr.A had acquired flat from 'housing board haryana'
now mr.A paying amount in installments including interest
does this amount of interest qualify for deduction u/h house property?
now mr.A paying amount in installments including interest
does this amount of interest qualify for deduction u/h house property?
CMA Ramesh Krishnan
(Expert)
23 January 2013
Interest will qualify for deduction u/s24b. but you might of completed the construction then only claim interest deduction, if construction is going on, then interest during construction period need to accumulate and can be claimed in 5 equal installment after completion
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