Lap(loan against property)
This query is : Resolved
01 April 2014
Respected Sir
Can i claim Loan Against Property(LAP) Interest & Repayment of principal use in my income tax return for deduction?
thanks & Regards
Jagjit Singh
Respected Sir
Can i claim Loan Against Property(LAP) Interest & Repayment of principal use in my income tax return for deduction?
thanks & Regards
Jagjit Singh
01 April 2014
not under section 80c if you are using the proceeds for any purpose other than purchase or construction of a residential property.
for interest the same shall apply under 24(b)
however, if the money is used for business purpose, the interest paid can be claimed as a business expense.
for interest the same shall apply under 24(b)
however, if the money is used for business purpose, the interest paid can be claimed as a business expense.
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 our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- Copyright software
- Value of property in capital gain
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- RULE 86B APPLICABILITY IN QRMP TAX PAYER
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
