house property
This query is : Resolved
18 April 2009
please explain me this provision under section 24(b) interest on borrowed capital
Interest is deductable even if capital is borrowed to purchase a plot but not for the purpose of construction of building on it.
please reply soon
Interest is deductable even if capital is borrowed to purchase a plot but not for the purpose of construction of building on it.
please reply soon
18 April 2009
its preconstruction period loan
interest is allowed till 150000 rs
interest is allowed till 150000 rs
Manmohan ACA, CS
(Expert)
18 April 2009
No the loan must be taken for purchase. construction repair or renovation of house property
18 April 2009
Section 24(b) can be claimed only for the interest payable on borrowed capital for the purpose of acquiring, constructing, repairing, renewing or reconstructing house property.
18 April 2009
agree with Mr. warrier
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