Interest deduction in hp
This query is : Resolved
19 April 2012
Is deduction of interest allowed from Net annual value of HP, if loan is taken from relative?
19 April 2012
Yes. You have to obtain a certificate of interest showing that you have taken a loan from him for purchasing a house and certifying the interest amount paid till 31st March.
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20 April 2012
Yes. Interest is deducted while calculating income from HP. As explained by sir, u need to get interest paid certificate.
U can claim total interest if it is LO or upto Rs. 150,000 if self occupied.
U can claim total interest if it is LO or upto Rs. 150,000 if self occupied.
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