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 ?
02 February 2014
The deduction of interest can be claimed from the rent received.
26 May 2014
you can take deduction u.s 24(b) for intt paid on loan.
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