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Interest on mortgage loan-dedn u/s. 24b ?

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(Querist)
13 November 2013 one of my client has a Let out residential property. In the current year he has taken a mortgage loan on the said property.

can he claim interest paid as dedn u/s. 24b ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
13 November 2013 no. such interest is not deductible. Interest deduction is allowed only if such loan was taken to buy the said property.
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ramprasad

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ramprasad (Expert)
14 November 2013 Deduction under section 24 is available for loan taken towards purchase or construction of houseproperty.Hence mortgage loan interest is no deductable under the head house property.
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