Rebate u/s 24b
This query is : Resolved
18 April 2019
hello All
I am Sanjay. Want your guidance.
My client has taken loan against property for construction purpose or purchase of another property from NBFC. Is he eligible for rebate of interest and principal paid during the year u/s 24B and 80C.
Kindly advise as soon as possible.
Regards
Sanjay
I am Sanjay. Want your guidance.
My client has taken loan against property for construction purpose or purchase of another property from NBFC. Is he eligible for rebate of interest and principal paid during the year u/s 24B and 80C.
Kindly advise as soon as possible.
Regards
Sanjay
18 April 2019
i) Eligible to claim 24(b).
ii) Eligible to claim 80C only if
+ the property constructed/purchased is 'residential property' AND
+ the NBFC's is registered in India and the main object is providing long term
finance for construction/purchase of residential property in India.
ii) Eligible to claim 80C only if
+ the property constructed/purchased is 'residential property' AND
+ the NBFC's is registered in India and the main object is providing long term
finance for construction/purchase of residential property in India.
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