Deduction under Sect 24 for Interest Payment on Housing Loan
This query is : Resolved
Pradeep Kumar
(Querist)
30 June 2009
hi
with respect to the above sunject, I wish to ask whether Occupancy Certificate from the Muncipal Corporation is required to claim deduction u/s 24(b) of Income Tax Act, 1961. The Assessee for some reason has not been able to get the Occupation Certificate, however the consideration is paid, Possession is also with the assessee & the interest is also paid on time for the year.
Can the assessee claim deduction u/s 24(b) or the this deduction would be disallowed for want of Occupancy Certificate??
Though the Act does not say anything in this regard, the assessee is owner under Section 27 of the Act. But are there any case laws that have held that deduction wont be allowed. Please let me knw.
with respect to the above sunject, I wish to ask whether Occupancy Certificate from the Muncipal Corporation is required to claim deduction u/s 24(b) of Income Tax Act, 1961. The Assessee for some reason has not been able to get the Occupation Certificate, however the consideration is paid, Possession is also with the assessee & the interest is also paid on time for the year.
Can the assessee claim deduction u/s 24(b) or the this deduction would be disallowed for want of Occupancy Certificate??
Though the Act does not say anything in this regard, the assessee is owner under Section 27 of the Act. But are there any case laws that have held that deduction wont be allowed. Please let me knw.
Venkat Rao Marella
(Expert)
01 July 2009
Certificate from the banker for payment of Interest for the AY under consideration should be obtained.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
