Interest on housing loan
This query is : Resolved
06 December 2013
A HOUSE IS DEMOLISHED AND NEW CONSTRUCTION IS STARTED BY TAKING LOAN OF 15 LACS ,WHETHER DEDUCTION OF 1.5 LACS IS AVAILIABLE?
WHAT IS DIFFERENCE BETWEEN REPAIR/RENOVATION AND DEMOLITION?
COST OF CONSRTUCTION WILL BE AROUND 60 LACS
WHAT IS DIFFERENCE BETWEEN REPAIR/RENOVATION AND DEMOLITION?
COST OF CONSRTUCTION WILL BE AROUND 60 LACS
CA PARAS BAFNA
(Expert)
06 December 2013
Deduction U/s 24 will be available upto 1.50 lac subject to the prescribed conditions of completion etc.
.
Difference can be understood by the following Relationship which is based on
the size of the work to be carried on or amount to be spent-
.
Demolition > Renovation> Repairs
or
1000000> 100000>10000
.
.
Difference can be understood by the following Relationship which is based on
the size of the work to be carried on or amount to be spent-
.
Demolition > Renovation> Repairs
or
1000000> 100000>10000
.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
CAclubindia
