Deduction u/s 24 and 80c for interest and principal payment

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Gazal Agarwal (Querist)
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16 April 2018 Query for A.Y. 2018-19
●I have taken mortgage loan against land(Asset A) of 700000 @10.80% for construction of another house property (Asset B ).
●Construction has been completed within 1 year from the date of loan taken.
●The amount of loan was only used for construction of house property.
● Now i am generating rental income of 30000 per month from Asset B.
●Whether am i eligible to claim deduction u/s 24 for interest repayment and deduction u/s 80C for principal repayment.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 April 2018 yes you are eligible for both the deductions....

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Deduction u/s 24 and 80c for interest and principal payment

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