House property
This query is : Resolved
20 December 2014
Please Help me on the following issue:
A person took a loan for construction of a house and after completion of construction he is claiming interest as pre construction interest. If he took another loan for the construction of the same property by mortgaging his another house can we claim the interest of this loan as a deduction from Income from House Property????
A person took a loan for construction of a house and after completion of construction he is claiming interest as pre construction interest. If he took another loan for the construction of the same property by mortgaging his another house can we claim the interest of this loan as a deduction from Income from House Property????
Amol S Joglekar
(Expert)
20 December 2014
Housing Loan is different from LOAN against Property.
Interest on housing LOAN qualifies for deduction/rebate etc but not the LOAN against property.
Interest on housing LOAN qualifies for deduction/rebate etc but not the LOAN against property.
Rupesh Jain
(Expert)
20 December 2014
you can claim the intt on construction or acquiring the property . can not claim the intt on against property loan.
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