Deduction u/s 24

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abhijeet

abhijeet (Querist)
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04 March 2015 Sir, can we claim interest On Housing loan of LOP as well As SOP?? as a deduction u/s 24??

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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04 March 2015 Yes you can claim interest on housing loan of let out property u/s 24 to the extent of actual interest payment.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 March 2015 for sop the limit from ay 15-16 onwards has been increased to 2,00,000

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abhijeet

abhijeet (Querist)
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05 March 2015

sir can i claim Interest paid on both the properties(let out & self occupied ) for the same individual and for the same assessment year?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 March 2015 the ans is yes for both but there is limit for sop as stated for lop no limit

abhijeet

abhijeet (Querist)
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05 March 2015 But we have received demand as ITO disallowed Interest paid on SOP... What should I suppose to do

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 March 2015 how he can disallow when sec 24b is allowing u?

what has actually ao written as reason for disalloance in assessment order passed?

abhijeet

abhijeet (Querist)
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05 March 2015 We have received it under 143 1... after goin through the assessment by CPC I come to knw dat... Interest paid on SOP has been disallowed..

Int paid on Sop 51000
Int Paid on LOp 212000

out of which 51000 has been disallowed

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 March 2015 pls mention the reason for disallowance for same?

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Deduction u/s 24

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