01 April 2009
Being the private Ltd company purchased the house property and has taken the bank loan. Income of the said property assessed as House property Income. Whether the company can claim interest against the income. Interest alone 45% of the said HP income.
01 April 2009
Yes. I property is rented, full interest can be deducted against rental income. Otherwise, interest upto Rs.150000/- can be taken as deduction.
01 April 2009
As per provision of the Income Tax there is same provision for Individual or company or whatever the status of concern so if property is let out then full payment of interest is allowed as deduction otherwise only payment is allowed which is maximum of Rs.1,50,000/-
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