interest on capital borrowed
This query is : Open
24 August 2010
X borrowed 106000@21% interest on 10 march 1999(date of repayment 16 jan 2008:date of completion of construction 6 march 2004. plz clarify what will be the amounnt of deduction available ? plz its urgent
25 August 2010
what ever interest paid up to March 2004 is pre construction interst can be claimed in five equal annual instalment
normal interest is Rs.150000 or actual which ever is lower incase of SOP and Actual interest incase of LOP, from the FY 2004-05 onwards
normal interest is Rs.150000 or actual which ever is lower incase of SOP and Actual interest incase of LOP, from the FY 2004-05 onwards
25 August 2010
but the capital is borrowed before 1 april 1999 and the construction is also completed after 3 yrs fromt he endd of the financial year in which the capital is borrowed. so in this case what will be the amount of deduction ?
25 August 2010
but the capital is borrowed before 1 april 1999 and the construction is also completed after 3 yrs fromt he endd of the financial year in which the capital is borrowed. so in this case what will be the amount of deduction ?
25 August 2010
interest upto 06.03.2004 can be deducted in 5 installments as pre-construction period interest, interest after 06.03.2004 can be availed as sop ans let out as the case may be
26 August 2010
could u plz clarify referring to question 72-p4 of singhania book
26 August 2010
I think for house construction shuold complete with in 3 years from starting of construction claiming Interest
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Dep. as per companies act
- Minimum tax payable to file Updated return
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- TDS on purchase of under construction property from a reseller
- New GST registration for new place of business.
- Need Professional Opinion AY 2012-13 Old Demand
- Salary from Qatar in Dollars in India
- SALARY CAN BE CAPITALIZE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
