Mortage loan
This query is : Resolved
10 September 2009
Hi,
I would like to know if there is any case or a provision in Income Tax Act through which interest on mortgage loan is deductible.
I would like to know if there is any case or a provision in Income Tax Act through which interest on mortgage loan is deductible.
Late CA Sampat Jain
(Expert)
11 September 2009
IF THE LOAN IS FOR PERSONAL PURPOSE , IT IS NOT ALLOWBLE
IF IT IS FOR BUSINESS PURPOSE , IT IS ALLOWABLE AGAINST BUSINESS INCOME
IF IT IS FOR BUSINESS PURPOSE , IT IS ALLOWABLE AGAINST BUSINESS INCOME
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