Deduction under section 24
This query is : Resolved
21 February 2008
What is the quantum of deduction that would be allowable under the Income tax Act on a flat the construction of which was completed during September 2007 and possession handed over in October 2007? Whether full deduction is available? Is there any CBDT circular in this regard?
21 February 2008
ANY INTEREST PAID ON LOAN UPTO RS.150000/- IS ALLOWED FOR DEDUCTION EACH YEAR.
CA Hemant T Dewani
(Expert)
21 February 2008
if interest is paid during the year interest upto 150000/-deduction is avalable to you
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