Interest u/s 24 allowable on plot loan
This query is : Resolved
13 July 2016
Whether deduction of interest u/s 24 is allowable on loan taken for purchase of plot?
CMA Ramesh Krishnan
(Expert)
13 July 2016
Yes. eligible but you cannot claim now, you have to wait till the construction of house in that plot, once completed, you can claim that as preconstruction interest in 5 installment
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