Loan repayment

This query is : Resolved

naman (Querist)
Follow

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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

THUSHAR MURALI KRISHNA

giriswar

Akhil Jain

Somnath Maiti

Shunmugavel Manohar

Subscribe Now

Loan repayment

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

Accountant

Manager- Finance and Compliance

GST CONSULTANCY

CA Final