House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2015
Mr.A a salaried employee constructed a new house in 2001 with bank loan, this loan was closed in 2009.In 2013 April,he constructed additional floor to the old house by borrowing 12 lakhs. The additional construction was completed in feb 2014.The bank charged Rs.1,03,000 as interest on this new loan up to 31.03.2014. The house is self occupied he is filing a delayed return.What is the interest that can be taken U/s 24?
Deepti Asawa
(Expert)
11 March 2015
Rs. 103000 is allowable as interest u/s 24
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