Loan against property
This query is : Resolved
28 September 2012
I am planning to take loan against property on my self occupied residential property. I will use this loan to buy a commercial property - shop. Will I get any tax rebate on the interest or principle? Any other deductions that I can claim on shop or residential property?
Will there be any difference due to end use of shop - rent it out or use it for own business?
Will there be any difference due to end use of shop - rent it out or use it for own business?
CA Lokesh Pokharna
(Expert)
28 September 2012
good query... interest exp. should be allowable because its a exp in relation to business
28 September 2012
Will the interest expense be allowed on shop and to what extent - no limit?
CA MANOJ GUPTA
(Expert)
01 October 2012
IN ANY CASE U WILL GET DEDUCTION BUT ONLY AG INCOME FROM SHOP
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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