Loan repayment
This query is : Resolved
22 September 2011
housing loan repayment on purchase of commercial building is allowed as deduction u/s 80c or not. what if loan is taken to purchase residential bldg for investment purpose but not to reside in it.
22 September 2011
1) Deduction under section 80C (2) (xviii) can't be availed for 'commercial building'.
2) The deduction under the above referred section can be availed though the residential building is for investment purpose. However, pl bear in mind that the rationale behind the section is to promote residential housing facilities to Indian citizen's.
2) The deduction under the above referred section can be availed though the residential building is for investment purpose. However, pl bear in mind that the rationale behind the section is to promote residential housing facilities to Indian citizen's.
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
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- LTCG for Assmt year 26-27
- TDS related Query_Liquidated Damages
- NON- SUBMISSION OF LLP FORM 3
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
