Treatment of interest paid on loan.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2013
a person purchase house which is under construction in 2007 and take a finance from bank so what is the treatment of interest paid on that loan.
please also mention related section and case law
please also mention related section and case law
11 June 2013
you can claim the interest u/s.24(b) but The construction or acquisition of the house property is required to be completed within three years from the end of the financial year in which the home loan is taken. If this condition is satisfied, deduction under section 24 on account of interest payment on the home loan would be limited to maximum of Rs 1,50,000 a year.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Unregistered suppliers utility
- NRI starting business in India
- ITDS U/S.194T of Firm
- FCRA 6 E- Intimation
- Resigning a auditor from the company for misconduct
- Filling ITR - U
- TDS ON EMAIL DOMAIN SERVICE BILL
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
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
