Interest on bank loan against rent received
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2014
I had taken bank loan against construction of a godown.During the financial year 2012-2013, I had received a rent of Rs.5,00,000/- against godown rent and had also paid bank loan interest of Rs.2,50,000/- (Loan entirely invested on construction of the godown). Whether I can claim deduction of bank interest from the rental income ?
AVTAR SINGH
(Expert)
02 February 2014
The deduction of interest can be claimed from the rent received.
Rupesh Jain
(Expert)
26 May 2014
you can take deduction u.s 24(b) for intt paid on loan.
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