deduction u/s 24 & 80C
This query is : Resolved
29 April 2010
An assessee has taken a housing loan from his company in which he working and purchase a plot and paying installment of loan but he failed to construct the building. can he take the benefit of deduction under section 24 and 80C
29 April 2010
no
29 April 2010
he cannot take
29 April 2010
For claiming the benefit of interest on loan, building should be constructed with in 3 years. So in your case you cant take the benefit of Interest U/S 24(b)
29 April 2010
Agree with experts.
30 April 2010
NOT POSSIBLE
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