Section 24(B)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2010
Sir I want clarification on this section.
1. Interest is allowed on let out house as well as self occupied house?
2. Can we claim deducion under both properties in the same year? (Provided Total Interest Amt< 150000/-)
3. If loan is taken for renovation of 1st floor, then interest allowed?
1. Interest is allowed on let out house as well as self occupied house?
2. Can we claim deducion under both properties in the same year? (Provided Total Interest Amt< 150000/-)
3. If loan is taken for renovation of 1st floor, then interest allowed?
13 October 2010
Answer for all the three Q. is "yes"
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2010
sir on more query...interest allowed on payable or paid basis?
13 October 2010
Allowable on payable basis. Pl refer CBDT Circular 363 dated June 24,1983.
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