Interest on land purchase
This query is : Resolved
24 July 2008
Could I claim interest on loan taken for purchase of land/plot as deduction Under the head Income from House property?
Thanks
Shashi
Thanks
Shashi
24 July 2008
If it is house then you can certainly claim deduction upto Rs 150000 if loan is for renovation of house and upto Rs 30000 (if loan is for repairs).
But in your case it is Land so you can not claim deduction under head Income from House Property.
But in your case it is Land so you can not claim deduction under head Income from House Property.
25 July 2008
Sir,
Thankyou very much for ur reply.
Shashi
Thankyou very much for ur reply.
Shashi
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