Doubt in pre construction interest
This query is : Resolved
08 January 2014
In house property, is there a provision for the treatment if construction is completed in the same year in which loan is taken?
08 January 2014
If construction of house property is completed in the year of loan taken then as per provisions of income tax act 1961 interest paid is not eligible as Pre-construction period interest. The interest paid to borrower is allowed as deduction under section 24
10 January 2014
as per my opinion, if the construction of house property is completed in same year of loan taken then assesse can claim deduction of int. for both pre construction period and u/s 24 as well.
but one thing to be consider that the interest for the period of construction only and not for remaining period and deduction u/s 24 is allowed only for period after completion....
but one thing to be consider that the interest for the period of construction only and not for remaining period and deduction u/s 24 is allowed only for period after completion....
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- LIC maturity claim whether taxable
- TDS AND ITR ISSUE
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
