Deduction u/s. 57

Save Share

This query is : Resolved

Yogesh Mistry (Querist)
Follow

02 November 2012 Assessee has taken a home loan.

Out which some amount given to other related party, which is used for some other purpose.

And assessee has earned interest income from it.

Can interest paid on home loan be allowed as deduction u/s.57 against such interest income.?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

02 November 2012 Int on housing loan can be claimed ONCE either under" income from house pproperty" or as you pointed out in "income from other sources" The assessee has the choice to selcet the one which is beneficial to assessee.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now